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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.
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Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
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(U3) Breaches Key Resistance
- RES 4: $85.94 - High Aug 23 2022
- RES 3: $85.00 - Round number resistance
- RES 2: $83.59 - High Nov 7 2022
- RES 1: $82.00 - High Jul 31
- PRICE: $81.51 @ 07:06 BST Aug 1
- SUP 1: $76.64/73.78 - 20-day EMA / Low Jul 17
- SUP 2: $69.82/66.98 - Low Jul 3 / Low Jun 12 and key support
- SUP 3: $64.22 - Low May 4 and the bear trigger
- SUP 4: $62.43 - Low Dec 2 2021 (cont)
The uptrend in WTI futures remains intact. The break above $77.15 last week, the Jul 13 high, confirmed a resumption of the current bull cycle and this has resulted in a break of key resistance at $81.44, the high on Apr 12 / 13. This development strengthens bullish conditions and signals scope for a climb towards $83.59, the Jul 11 2022 high. Initial key short-term support lies at $73.78, the Jul 17 low.
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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.