Free Trial

(M0) Bullish Outlook Holds *RES 4:.....>

SCHATZ TECHS
SCHATZ TECHS: (M0) Bullish Outlook Holds
*RES 4: 112.482 1.500 projection of the Mar 25 - 30 rally from Apr 9 low
*RES 3: 112.470 High Mar 18
*RES 2: 112 413 50.0% retracement of the Mar 9 - 25 sell-off.
*RES 1: 112.400 High May 4
*PRICE: 112.270 @ 05:06 BST May 7
*SUP 1: 112.255 Low May 4
*SUP 2: 112.215 High Apr 20
*SUP 3: 112.175 Low Apr 30
*SUP 4: 112.075 Low Apr 23 and key support
Schatz uptrend remains intact. Futures traded sharply higher Apr 30 resulting in
a print above 112.270, Apr 30 high and extended the rally Monday. Despite
pulling back from Monday's high, a bullish theme remains in place. The move
above 122.270 is an important break and reinforces a bullish theme. The next
objective is 50% of the sell-off between Mar 9 - 25 at 112.413. Initial support
lies at 112.255, May 4 low ahead of the 112.215, Apr 20 high.

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.