Free Trial

(H18) Bears Focused On Double Daily....>

SCHATZ TECHS
SCHATZ TECHS: (H18) Bears Focused On Double Daily Bottom
*RES 4: 112.240 High Dec 7 
*RES 3: 112.190 High Dec 11 
*RES 2: 112.126 100-DMA 
*RES 1: 112.111 55-DMA
*PREVIOUS CLOSE: 112.090
*SUP 1: 112.034 Bollinger band base 
*SUP 2: 112.025 Monthly Lows Oct 26 & Nov 30 
*SUP 3: 111.945 Low Aug 8 
*SUP 4: 111.855 Low July 21
*COMMENTARY: Bearish confidence grows with the close below the 55-DMA and
100-WMA (112.098) ending bullish hopes and shifting immediate focus to the
double daily bottom 112.025. Daily studies are well placed for losses. Bulls
need a close above the 100-DMA to regain the upper hand and above 112.240 to
confirm focus on 112.270-325. A close below the double daily bottom is needed to
shift initial focus to 111.855-945 and overall focus to the 200-WMA (111.581).

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.