Free Trial

(H1) Remains Above Support

SCHATZ TECHS
  • RES 4: 112.368 61.8% retracement of the Dec 11 - 28 downleg
  • RES 3: 112.350 High Dec 21 / 22
  • RES 2: 112.330 High Jan 4 / 5 and 15 and a reversal trigger
  • RES 1: 112.295 High Jan 19 / 20-day EMA
  • PRICE: 112.280 @ 04:46 GMT Jan 21
  • SUP 1: 112.260 Low Jan 19 and 20
  • 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 are largely unchanged and maintain a positive outlook despite the most recent pullback. The near-term focus is on 112.330, Jan 4, 5 and 15 highs. A break of this hurdle would strengthen a bullish case and also highlight a potential reversal exposing initially the resistance at 112.350, Dec 21 and 22 high. On the downside, key support is at 112.235, Dec 28 low. Clearance of this support 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.