Free Trial

(M1) Remains Below Resistance

SCHATZ TECHS
  • RES 4: 112.250 High Feb 15 (cont)
  • RES 3: 112.240 50-day EMA (cont)
  • RES 2: 112.193 20-day EMA (cont)
  • RES 1: 112.125 High Mar 1 and 2
  • PRICE: 112.090 @ 05:15 GMT Mar 15
  • 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

The Schatz futures outlook is unchanged. The contract is consolidating and remains in a bear trend. However, the recent recovery from 111.940, Feb 26 low, means this market remains in a corrective phase, allowing a recent oversold condition to unwind. 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.

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.