Free Trial

(H3) Bull Cycle Still In Play

SCHATZ TECHS
  • RES 4: 106.296 61.8% retracement of the Dec 2 - Jan 2 bear leg
  • RES 3: 106.118 50.0% retracement of the Dec 2 - Jan 2 bear leg
  • RES 2: 106.000 Round number resistance
  • RES 1: 105.945 High Jan 13
  • PRICE: 105.825 @ 05:10 GMT Jan 17
  • SUP 1: 105.625/560 Low Jan 10 / 6
  • SUP 2: 105.480 Low Jan 3
  • SUP 3: 105.360 Low Jan 2 and the bear trigger
  • SUP 4: 105.345 2.618 projection of the Dec 2 - 13 price swing

Schatz futures maintain a positive short-term tone and the contract is trading closer to its recent highs. Price has breached the 20-day EMA and this reinforces short-term bullish conditions. The focus is on 105.939, 38.2% of the Dec 2 - Jan 2 bear leg. It has been tested, a clear break would open the 106.000 handle. On the downside, the firm support to watch lies at 105.625, the Jan 10 low. A break would signal a reversal.

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.