MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI: US March Existing Home Sales Fell 4.3% To 4.19M

WILLIAMS: NOT BASE CASE TO RAISE RATES FURTHER

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI: FED BALANCE SHEET TOTAL ASSETS -$33B TO $7.406T IN WEEK

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

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

(X2) Bearish Extension

BRENT TECHS
  • RES 4: $107.30 - High Jul 5
  • RES 3: $96.99/103.86 - High Sep 5 / High Jul 29 and key resistance
  • RES 2: $94.24 - 50-day EMA
  • RES 1: $90.88 - 20-day EMA
  • PRICE: $85.03 @ 06:54 BST Sep 28
  • SUP 1: $83.65 - Low Sep 26
  • SUP 2: $82.59 - 1.618 proj of the Jul 29 - Aug 17 - 30 price swing
  • SUP 3: $80.71 - 1.764 proj of the Jul 29 - Aug 17 - 30 price swing
  • SUP 4: $79.12 - Low Jan 24

Brent futures are consolidating. The contract traded lower Monday, confirming a resumption of the broader downtrend. Price has breached support at $87.24, Sep 18 low and a bear trigger. The move lower strengthens bearish conditions and maintains the price sequence of lower lows and lower highs. This paves the way for $82.59 next, a Fibonacci projection. Firm trend resistance is at the 50-day EMA, at $94.24.

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.