OIL: BFOET May Loadings to Rise But To Decline From Johan Sverdrup
North Sea combined BFOET loadings in May are scheduled to rise to 587kbpd from 560kbpd in April, according to loading programs.
The five main grades of Brent, Forties, Oseberg, Ekofisk and Troll will load a total of 26 cargoes in May, compared with 24 cargoes in April.
- Brent: 1 cargo in May vs 1 in April; 23kbpd unchanged from 23kbpd
- Forties: 7 cargoes vs 8; 158kbpd down from 187kbpd
- Oseberg: 3 cargoes vs 2; 68kbpd up from 47kbpd
- Ekofisk: 11 cargoes vs 10; 248kbpd up from 233kbpd
- Troll: 4 cargoes vs 3; 90kbpd up from 70kbpd
Johan Sverdrup loadings are down on the month at 723kb/d on 21 cargoes compared to 760kb/d in April.
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MNI: US JAN NEW HOME SALES -10.5% TO 0.657M SAAR
- MNI: US JAN NEW HOME SALES -10.5% TO 0.657M SAAR
- US DEC NEW HOME SALES REVISED TO 0.734M SAAR
AUDUSD TECHS: Corrective Pullback Extends
- RES 4: 0.6471 High Dec 9 ‘24
- RES 3: 0.6429 High Dec 12 ‘24
- RES 2: 0.6414 38.2% retracement of the Sep 30 ‘24 - Feb 3 bear leg
- RES 1: 0.6409 High Feb 21
- PRICE: 0.6309 @ 14:52 GMT Feb 26
- SUP 1: 0.6300/6231 Intraday low / Low Feb 10
- SUP 3: 0.6171/6088 Low Feb 4 / 3
- SUP 3: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
- SUP 4: 0.6000 Round number support
AUDUSD is trading lower today. The latest pullback appears corrective, however, the pair has traded through support at the 50-day EMA, at 0.6316. A clear breach of this average would signal scope for a deeper retracement and expose 0.6231, the Feb 10 low. For bulls, a resumption of gains would refocus attention on key resistance at 0.6402/14 - the 100-dma and 38.2% of the Sep 30 ‘24 - Feb 3 bear leg respectively.
EQUITY TECHS: E-MINI S&P: (H5) Pierces Support
- RES 4: 6205.38 0.764 proj of the Jan 13 - 24 - Feb 3 price swing
- RES 3: 6200.00 Round number resistance
- RES 2: 6178.75 High Dec 6 and key resistance
- RES 1: 6069.41/6166.50 20-day EMA / High Jan 24
- PRICE: 5980.00 @ 14:35 GMT Feb 26
- SUP 1: 5924.00 Low Feb 25
- SUP 2: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
- SUP 3: 5842.50 Low Jan 14
- SUP 4: 5809.00 Low Jan 13 and a reversal trigger
The latest move down in S&P E-Minis appears corrective, however, price has breached support at 6014.00, the Feb 10 low. This exposed a key support at 5935.50, the Feb 3 low, that was pierced on Tuesday. A clear break of it would allow for a deeper retracement. MA studies are in a bull-mode condition that suggests the trend direction remains up. A resumption of gains would refocus attention on key resistance at 6178.75, the Dec 6 ‘24 high.
