Free Trial

TECHS: Triangle Base Support in.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Triangle Base Support in View
Despite breaching triangle top resistance & the previously hard to overcome
1.3505 level on Friday, oil prices underpinned with a reversal back through
1.3450. The short-term outlook remains neutral with bears looking for a break
back under trendline support, the May 16 low and the 55-dma which all converge
around the 1.34 level. Bulls need a close above 1.35 to cement the uptrend,
opening a run at the Apr 24 high & 76.4% retracement of the Jan - Feb fall at
1.3521/24.

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.