Free Trial

Bears Focused On Channel Base......>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bears Focused On Channel Base
*RES 4: Php50.513 - 200-DMA 
*RES 3: Php50.404 - 21-DMA 
*RES 2: Php50.350 - High Dec 22 
*RES 1: Php50.100 - Low Dec 21 now resistance
*PRICE: Php49.980 @ 2300GMT
*SUP 1: Php49.850 - Low Dec 28 
*SUP 2: Php49.770 - Low June 16 
*SUP 3: Php49.499 - Daily Bear channel base 
*SUP 4: Php49.440 - Low June 15
*COMMENTARY: Fresh 6mth lows continue with bears currently focused on the
Php49.440-499 support region where the bear channel base is situated. Bulls
continue to look for a close above Php50.100 to gain breathing room but a close
above the 200-DMA remains needed to shift focus to Php50.810-51.030 where 55 &
100-DMAs are situated. O/S daily studies are the key concern for bears with
potential to limit follow through.

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.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });