Free Trial

(H18) Pressure Remains On......>

SHORT-STERLING TECHS
SHORT-STERLING TECHS: (H18) Pressure Remains On 55-DMA
*RES 4: 99.474 200-DMA
*RES 3: 99.450 Low Sept 13 now resistance
*RES 2: 99.441 21-DMA
*RES 1: 99.435 Repeated Daily Lows now resistance
*PREVIOUS CLOSE: 99.425
*SUP 1: 99.423 55-DMA
*SUP 2: 99.410 Repeated Daily highs now support
*SUP 3: 99.394 100-DMA
*SUP 4: 99.390 Lows Dec 5 & 8
*COMMENTARY: The 99.450 resistance level held firm with topside failures finally
taking their toll and Thursday's bearish close seeing focus back on 55 &
100-DMAs. Bears look for a close below the 100-DMA to target 99.300-310 with
below 99.390 to add weight to the case. Bulls continue to look for a close above
99.450 to shift focus to 99.474-520 where the 55-WMA and 200-DMA are noted.

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.