Free Trial

Bears Reconfirm Overall Focus On...>

DOLLAR-MYR TECHS
DOLLAR-MYR TECHS: Bears Reconfirm Overall Focus On 200-WMA
*RES 4: Myr4.1586 - 21-DMA 
*RES 3: Myr4.1423 - High Nov 24 
*RES 2: Myr4.1311 - High Nov 28 
*RES 1: Myr4.0809 - Monthly Low Nov 29 now resistance
*PRICE: Myr4.0550 @ 2300GMT
*SUP 1: Myr4.0370 - Monthly Low Sept 8 2016 
*SUP 2: Myr4.0315 - Daily Bear channel base 
*SUP 3: Myr4.0135 - Low Aug 26 2016 
*SUP 4: Myr3.9750 - Monthly Low Aug 16 2016
*COMMENTARY: Having recently found support around the longer-term bear channel
base (Myr4.0771) bears take comfort in Monday's sell-off and bearish close that
sees focus shift to Myr3.9750-4.0315 where the Aug monthly low is noted. Overall
focus remains on the 200-WMA (Myr3.9190). Initial resistance is noted at
Myr4.0809 with bulls needing a close above to ease bearish pressure and hint at
a correction back to Myr4.1311-1423.

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' }); });