Free Trial

(H18) 99.350 & 99.410 Levels...>

SHORT-STERLING TECHS
SHORT-STERLING TECHS: (H18) 99.350 & 99.410 Levels Remain Key
*RES 4: 99.450 Low Sept 13 now resistance
*RES 3: 99.442 100-DMA
*RES 2: 99.410 High Sept 15 & Nov 22-27 & Dec 4
*RES 1: 99.407 Bollinger band top
*PREVIOUS CLOSE: 99.400
*SUP 1: 99.370 Low Nov 3, 28 & 29
*SUP 2: 99.361 55-DMA
*SUP 3: 99.350 Alternating daily support/resistance
*SUP 4: 99.310 Low Nov 1
*COMMENTARY: The contract continues to trade sideways in a narrow 99.370-410
range. Bulls continue to look for a close above 99.410 to reconfirm a bullish
bias with initial focus shifting to 99.442-488 where 100 & 200-DMAs are noted.
The 99.350-370 support region remains key. Bears need a close below 99.350 to
confirm a break of the 55-DMA and initially target 99.300-310 where monthly lows
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.