Free Trial

Bulls Need Close Above 200-DMA.....>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bulls Need Close Above 200-DMA
*RES 4: Php50.965 - 55-DMA 
*RES 3: Php50.939 - 100-DMA 
*RES 2: Php50.810 - High Dec 7 
*RES 1: Php50.516 - 200-DMA
*PRICE: Php50.140 @ 2300GMT
*SUP 1: Php50.100 - Low Dec 21 
*SUP 2: Php49.970 - Low June 20 
*SUP 3: Php49.770 - Low June 16 
*SUP 4: Php49.615 - Daily Bear channel base
*COMMENTARY: Bears take comfort from fresh 6mth lows Thursday although the lack
of follow through was less than ideal. Bears now focus on the Php49.970 support
with a close below to add weight to the case for a test of the bear channel
base. Layers of resistance are accumulating with bulls now needing a close above
Php50.340 to ease bearish pressure and above the 200-DMA to shift initial focus
back to Php50.810-51.030 where 100 & 55-DMAs are situated.

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' }); });