Free Trial

Bulls Need Close Above Php51.700...>

DOLLAR-PHP TECHS
DOLLAR-PHP TECHS: Bulls Need Close Above Php51.700
*RES 4: Php52.560 - Low July 18 2006 now resistance 
*RES 3: Php52.085 - Monthly Low July 10 2006 now resistance 
*RES 2: Php51.700 - High Aug 3 2006 
*RES 1: Php51.630 - High Oct 3
*PRICE: Php51.510 @ 2300GMT
*SUP 1: Php51.350 - Low Oct 18 
*SUP 2: Php51.169 - 21-DMA 
*SUP 3: Php51.160 - Low Oct 10 
*SUP 4: Php51.035 - 55-DMA
*COMMENTARY: Consolidation above the 21-DMA continues with bulls needing a close
above Php51.700 to confirm focus on the Php52.085-56 region. The Bollinger band
top (Php51.678) and daily studies lingering around modestly O/B levels are seen
as concerns for bulls. In saying that, bears now need a close below Php51.350 to
ease immediate bullish pressure and below the 55-DMA to hint at a deeper
sell-off.

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' }); });