Free Trial

(H18) Pressure Returns to......>

SHORT-STERLING TECHS
SHORT-STERLING TECHS: (H18) Pressure Returns to 55-DMA
*RES 4: 99.520 High Sept 14
*RES 3: 99.476 55-WMA, 200-DMA
*RES 2: 99.450 Low Sept 13 now resistance
*RES 1: 99.444 21-DMA
*PREVIOUS CLOSE: 99.425
*SUP 1: 99.420 55-DMA
*SUP 2: 99.410 Repeated Daily highs now support
*SUP 3: 99.401 100-DMA
*SUP 4: 99.390 Lows Dec 5 & 8
*COMMENTARY: The 99.450 resistance level has held firm with topside failures
finally taking their toll and Thursday's bearish close seeing focus back to 55 &
100-DMAs. Bears now 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 99.476-520 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.