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(H18) Bulls Need Close Above....>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (H18) Bulls Need Close Above 97.942
*RES 4: 98.045 Low Feb 8 now resistance
*RES 3: 98.005 Low Feb 12 now resistance
*RES 2: 97.998 21-DMA
*RES 1: 97.942 High Feb 21
*PRICE: 97.895 @ 1135GMT
*SUP 1: 97.860 2018 Low Feb 28
*SUP 2: 97.580 Monthly Low Nov 2008
*SUP 3: 97.480 Weekly High Oct 2008 now support
*SUP 4: 96.900 Weekly Low Oct 2008
*COMMENTARY: The lack of follow through on 2018 lows Wednesday produced a
marginal bullish key day reversal and combined with daily momentum divergence
and O/S studies hints at a correction. In saying that, bulls still need a close
above 97.942 to confirm a shift in immediate focus to 97.998-98.005 where the
21-DMA is located. Bears now need a close below 2018 lows to reconfirm a bearish
bias and initially target 97.480-580 where Nov 2008 monthly lows are located.

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