Free Trial
GOLD

Edges Down From Multi Week Highs

BONDS

NZGBs Hold Firm

AUD

A$ Range Bound, Mixed On Crosses

JGBS

30-Year Supply Passes Smoothly

JGBS AUCTION

30-Year JGB Auction Results

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

(X2) Extends Corrective Bounce

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: $94.04 - 50-day EMA
  • RES 1: $90.73 - 20-day EMA
  • PRICE: $88.68 @ 06:54 BST Sep 29
  • SUP 1: $83.65 - Low Sep 26 and the bear trigger
  • 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 traded higher yesterday, extending the bounce from Monday’s low of $83.65. Short-term gains are considered corrective. The contract traded lower Monday, confirming a resumption of the broader downtrend. 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 $94.04.

155 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: $107.30 - High Jul 5
  • RES 3: $96.99/103.86 - High Sep 5 / High Jul 29 and key resistance
  • RES 2: $94.04 - 50-day EMA
  • RES 1: $90.73 - 20-day EMA
  • PRICE: $88.68 @ 06:54 BST Sep 29
  • SUP 1: $83.65 - Low Sep 26 and the bear trigger
  • 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 traded higher yesterday, extending the bounce from Monday’s low of $83.65. Short-term gains are considered corrective. The contract traded lower Monday, confirming a resumption of the broader downtrend. 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 $94.04.