Free Trial

(H9) Targeting December Highs *RES.....>

SCHATZ TECHS
SCHATZ TECHS: (H9) Targeting December Highs
*RES 3: 112.350 Inverse head-and-shoulders target (continuation chart)
*RES 2: 112.080 High Aug 13,15,17 (continuation chart)
*RES 1: 111.980 High Dec 4,5
*PRICE: 111.940 @ 15:25 GMT Dec 27
*SUP 1: 111.837 55-dma
*SUP 2: 111.770 Low Dec 13
*SUP 3: 111.765 Low Nov 8
The Thursday rally topped out at 111.96, stopping just short of early December
highs at 111.98, which becomes first resistance. To the downside, the 100-dma at
111.917 becomes the first target for bears. A break below here would cement
recent underperformance and shift downside targets to Dec13 lows at 111.770.
That said, the broader positive trend remains intact for now and a break above
the Dec14 high at 111.920 would allow a challenge of the Dec4, 5 highs at
111.980.

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.