Free Trial

(M18) 55-DMA Continues To Support......>

SCHATZ TECHS
SCHATZ TECHS: (M18) 55-DMA Continues To Support
*RES 4: 111.945 Highs Apr 5 & 6 
*RES 3: 111.930 Highs Apr 10 & 13 
*RES 2: 111.909 21-DMA 
*RES 1: 111.890 High Apr 19
*PREVIOUS CLOSE: 111.845
*SUP 1: 111.830 Low Mar 14, Bollinger band base, 55-DMA 
*SUP 2: 111.805 Low Mar 9 
*SUP 3: 111.715 Low Feb 27 
*SUP 4: 111.705 200-WMA
*COMMENTARY: Hesitation ahead of the 21-DMA took its toll with a sell-off that
is finding support ahead of the 55-DMA. Bears continue to look for a close below
111.805 to confirm traction below DMAs and initially target 111.715. The
Bollinger base is key concern for bears. Bulls need a close above 111.890 to
ease bearish pressure and above 111.945 to confirm traction above the 21-DMA and
shift initial focus back to 111.988-990 where the Bollinger top is noted.

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.