Free Trial

(H1) Attention Remains On 112.330 Resistance

SCHATZ TECHS

RES 4: 112.390 High Dec 16

RES 3: 112.368 61.8% retracement of the Dec 11 - 28 downleg

RES 2: 112.350 High Dec 21 / 22

RES 1: 112.330 High Jan 4 / 5 / 15 and a reversal trigger

PRICE: 112.290 @ 05:10 GMT Jan 19

SUP 1: 112.270 Low Jan 14

SUP 2: 112.240 Low Jan 12

SUP 3: 112.235 Low Dec 23 and the bear trigger

SUP 4: 112.210 Low Sep 1 (cont)

Schatz futures maintain a firmer tone despite the most recent pullback. The near-term focus is on 112.330, Jan 4 and 5 highs and the Jan 15 intraday high. A break of this level would strengthen a bullish case and also highlight a potential reversal exposing initially the resistance at 112.350, the Dec 21 and 22 high. On the downside, key support is at 112.235, Dec 28 low. A break would resume the downtrend.

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.