BRENT TECHS: (X5) Trading Below Resistance
- RES 4: $79.16 - 2.618 proj of the Apr 9 - 23 - May 5 price swing
- RES 3: $77.28 - 2.382 proj of the Apr 9 - 23 - May 5 price swing
- RES 2: $76.39 - High Jun 23 and a bull trigger
- RES 1: $69.53/71.93 - High Sep 2 / High Jul 30 and a key resistance
- PRICE: $68.43 @ 07:04 BST Sep 17
- SUP 1: $64.50 - Low Jun 30 and a key short-term support
- SUP 2: $60.82 - Low May 30
- SUP 3: $58.37 - Low May 5
- SUP 4: $57.81 - Low Apr 9 and a key support
Brent futures remain above their recent lows. Short-term gains are for now, considered corrective and a bear cycle remains intact. Sights are on $64.50, the Jun 30 low, where a clear break would confirm a continuation of the bear leg. This would open $60.82, the May 30 low. Key short-term resistance has been defined at $71.93, the Jul 30 high. Clearance of this level is required to cancel a bear theme.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
USDJPY TECHS: Bearish Outlook
- RES 4: 151.62 61.8% retracement of the Jan 10 - Apr 22 bear leg
- RES 3: 151.21 High Mar 28
- RES 2: 150.92 High Aug 1 and a key resistance
- RES 1: 148.52 High Aug 12
- PRICE: 147.39 @ 07:11 BST Aug 18
- SUP 1: 146.21 Low Aug 14
- SUP 2: 145.86 Low Jul 24
- SUP 3: 145.51 100-dma
- SUP 4: 145.40 50% retracement Apr - Aug Upleg
A bearish threat in USDJPY remains present and the pair is trading closer to its recent lows. Sights are on support at 145.86, the Jul 24 low. Clearance of this level would highlight a stronger reversal and strengthen the bearish engulfing signal from Aug 1. This would open 144.58, a trendline support drawn from the Apr 22 low. Initial firm resistance to watch is at 148.52, the Aug 12 high. A breach of this level would be viewed as a S/T bull signal.
RATINGS: Ireland & Latvia Affirmed On Friday
Sovereign rating reviews of note from after hours on Friday include:
• Moody's affirmed Ireland at Aa3; Outlook Positive
• Morningstar DBRS confirmed Latvia at A, Stable Trend
EUROSTOXX50 TECHS: (U5) Testing Resistance
- RES 4: 5575.00 High Mar 3 and a major resistance (cont)
- RES 3: 5568.00 High Mar 6
- RES 2: 5526.00 High Mar 19 / 20 (cont)
- RES 1: 5491.00 Intraday high
- PRICE: 5478.00 @ 06:47BST Aug 18
- SUP 1: 5363.22 20-day EMA
- SUP 2: 5345.89 50-day EMA
- SUP 3: 5280.00 Low Aug 7
- SUP 4: 5249.00 Low Aug 5
A bullish theme in Eurostoxx 50 futures remains intact and the contract is trading at its latest highs. The print above the May and July highs strengthens a bull theme and signals scope for a climb towards 5575.00, the Mar 3 high (cont) and key resistance. Moving average studies remain in a bull-mode position, highlighting an uptrend. Support to watch lies at 5345.89, the 50-day EMA.
