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

(X1) Bullish Conditions Intact

BRENT TECHS
  • RES 4: $80.00 - Psychological round number
  • RES 3: $78.13 - 0.764 proj of the Aug 23 - Sep 3 - Sep 9 price swing
  • RES 2: $76.74 - 0.618 proj of the Aug 23 - Sep 3 - Sep 9 price swing
  • RES 1: $76.13 - High Sep 15
  • PRICE: $74.94 @ 07:00 BST Sep 20
  • SUP 1: $72.75/70.88 - 20-day EMA / Low Sep 8
  • SUP 2: $69.77/$68.13 - Low Aug 26 / Low Aug 24
  • SUP 3: $64.20 - Low Aug 23
  • SUP 4: $63.54 - Low May 21 and a key support

Brent futures breached the Jul 6 high of $75.87 last week. This confirmed a resumption of the broader uptrend and strengthens a bullish case following the recent bear channel breakout. The channel was drawn off the Jul 6 high. Conditions remain bullish and the focus is on $76.74 next, a Fibonacci projection. Key short-term support has been defined at $70.88, Sep 8 low. Initial support is at $72.75, 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.