CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(Q4) Watching Resistance At The 50-Day EMA

BRENT TECHS
  • RES 4: $91.11 - 2.00 proj of the Jan 8 - 29 - Feb 5 price swing
  • RES 3: $90.22 - High Apr 12 and the bull trigger
  • RES 2: $84.72/87.77 - High May 29 / High Apr 26
  • RES 1: $82.51/83.34 - 50-day EMA
  • PRICE: $82.31 @ 07:04 BST Jun 14
  • SUP 1: $79.32/76.76 - Low Jun 7 / 4
  • SUP 2: $75.63 - Low Feb 5
  • SUP 3: $73.47 - Low Dec 13 and a key support
  • SUP 4: $71.20 - 1.382 proj of the Apr 12 - May 24 - 29 price swing

Brent futures have recovered from their recent lows. The trend condition is bearish and the latest recovery is considered corrective - for now. Initial resistance at $82.51, the 50-day EMA, has been pierced. A clear break of it would expose key short-term resistance at $84.72, the May 29 high. Clearance of this level would alter the picture. For bears, a reversal would refocus attention on a move to $75.63, Feb 5 low.

Homepagemarkets-real-timeCommoditiesEnergy BulletsBulletEnergy Technical Analysis

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.