RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI: Japan Dai-ichi Life To Up 30-Year JGBs Above 2%

MNI BRIEF: Policy Move Eyed If Inflation Meets 2% - BOJ's Ueda

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

April PMIs: Price Pressures Amid Stronger But Uneven Growth

MNI: UK APR FLASH MANUFACTURING PMI 48.7 (FCST 50.4); MAR 50.3

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(V20) Reversal Conditions Met

WTI TECHS
  • RES 4: $44.40 - Low Mar 2
  • RES 3: $43.78 - High Aug 26 and the intraday bull trigger
  • RES 2: $43.21 - High Sep 2
  • RES 1: $42.35 20-day EMA
  • PRICE: $41.00 @ 06:56 BST Sep 4
  • SUP 1: $40.22 - Low Sep 3
  • SUP 2: $39.89 - Low Aug 3
  • SUP 3: $39.00 - Low Jul 10 and 30 and a reversal trigger
  • SUP 4: $37.89 - Low Jun 29

WTI futures remain vulnerable following this week's sell-off with losses extending the pullback from the recent high of $43.78, Aug 26 high. Wednesday's move resulted in a breach of support at $41.46, Aug 21 low and yesterday saw the 50-day EMA at $41.27 breached. This signals a short-term top and the start of a deeper correction exposing $39.00, Jul 30 low. On the upside, initial resistance is seen at $42.35, the 20-day EMA.

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.