MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

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

(V1) Through Key Support

BRENT TECHS
  • RES 4: $75.65 - High Jul 30
  • RES 3: $73.55 - High Aug 3
  • RES 2: $71.90 - High Aug 12 and a key resistance
  • RES 1: $68.14/70.04 - Low Aug 16 / High Aug 18
  • PRICE: $66.67 @ 07:04 BST Aug 20
  • SUP 1: $65.57 - Low Aug 19
  • SUP 2: $63.89 - Low May 21 and a key s
  • SUP 3: $63.43 - 1.236 proj of the Jul 6 - 20 - 30 price swing
  • SUP 4: $62.71 - Low Apr 22

Brent futures remain weak. The contract has cleared key former support at $66.91, Jul 20 low. The breach of this bear trigger strengthens a bearish case and signals scope for a deeper retracement. Moving average studies remain in bull mode, just though and a switch would highlight a stronger bearish threat. The focus is on $63.89, May 21 low. Initial resistance to watch is $70.04, Aug 18 high.

Energy BulletsCommodities
Energy BulletsCommodities

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.