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(H1) Tests Key Resistance At 112.330

SCHATZ TECHS
  • RES 4: 112.390 High Dec 16
  • RES 3: 112.350 High Dec 21 / 22
  • RES 2: 112.344 50-day EMA
  • RES 1: 112.330 High Jan 4 / 5 / 15 and a reversal trigger
  • PRICE: 112.310 @ 08:29 GMT Jan 18
  • 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 and are holding onto last week's gains. The focus is on 112.330, Jan 4 and 5 highs and Friday's intraday high. A break of this level would strengthen a bullish case and also highlight a potential reversal exposing initially the 50-day EMA at 112.344. A break of the average would also highlight a bullish development. On the downside, key support is at 112.235, Dec 28 low. A break would resume the downtrend.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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