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RBA Fears 20% Real House Price Drop

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ACGB Jun-51 Auction Results

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OIL TECHS
OIL TECHS: WTI TECHS(H19) Developing Trend
*RES 4: $76.90 - High Oct 17 (continuation chart)
*RES 3: $63.91 - 200-dma (continuation chart)
*RES 2: $58.95 - 100-dma (continuation chart)
*RES 1: $57.96 - High Nov 16 (continuation chart)
*PRICE: $54.14 @ 16:48 GMT Feb 4
*SUP 1: $52.64 - 21-dma
*SUP 2: $50.66/38 -50-dma/ Low Jan 14
*SUP 3: $42.36 - Dec 24 low (continuation chart)
*SUP 4: $42.05 - June 21, 2017 (continuation chart)
WTI futures took out Friday's high to $55.75, before fading. Despite this the
recent uptrend remains intact with bulls topside focus on a break of the Nov 16
high at $57.96, ahead of the 100-dma at $58.95. Bears target a break of the
21-dma at $52.64, below here would suggest a bearish reversal down towards the
50-dma & Jan 14 low at $50.66/38.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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