Free Trial

(M18) Immediate Focus On 55-WMA *RES...>

SCHATZ TECHS
SCHATZ TECHS: (M18) Immediate Focus On 55-WMA
*RES 4: 112.115 High Dec 18 (Cont) 
*RES 3: 112.065 Monthly Low Sept 21 now resistance (Cont) 
*RES 2: 112.051 55-WMA 
*RES 1: 112.050 2018 High Mar 5 (Cont)
*PREVIOUS CLOSE: 111.970
*SUP 1: 111.945 Highs Apr 5 & 6 now support 
*SUP 2: 111.930 High May 17 now support 
*SUP 3: 111.870 Hourly resistance May 15 now support 
*SUP 4: 111.845 Low May 15
*COMMENTARY: Pressure on 111.945 finally took its toll with an aggressive break
higher that now sees immediate focus on the 55-WMA. Bulls then look for a close
above 112.065 to target 112.111-115 where the 100-WMA is noted. The 111.945
level remains initial support. Bears now need a close below this level to ease
bullish pressure and below 111.930 to shift focus back to 111.830-870.

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.