Free Trial

(M1) Consolidating

SCHATZ TECHS
  • RES 4: 112.250 High Feb 15 (cont)
  • RES 3: 112.213 50-day EMA (cont)
  • RES 2: 112.154 20-day EMA (cont)
  • RES 1: 112.125 High Mar 1 and 2
  • PRICE: 112.100 @ 05:11 GMT Mar 19
  • SUP 1: 112.045 Low Mar 1
  • SUP 2: 112.033 50.0% retracement of the Feb 26 - Mar 2 rally
  • SUP 3: 112.011 61.8% retracement of the Feb 26 - Mar 2 rally
  • SUP 4: 111.984 76.4% retracement of the Feb 26 - Mar 2 rally

Schatz futures are unchanged and the contract continues to consolidate. The underlying bear trend remains intact though. However, the recent recovery from 111.940, Feb 26 low, means this market remains in a corrective phase. Short-term resistance is at 112.125, Mar 1/2 high. A break would signal scope for stronger gains. On the downside, a pullback would suggest scope for a return to 111.940, Feb 26 low and the bear trigger.

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.