Free Trial

(M18) Pressuring 200-DMA.......>

SHORT-STERLING TECHS
SHORT-STERLING TECHS: (M18) Pressuring 200-DMA
*RES 4: 99.370 2018 High Jan 3
*RES 3: 99.340 Repeated Daily Highs Jan
*RES 2: 99.310 High Feb 7
*RES 1: 99.295 200-DMA
*PREVIOUS CLOSE: 99.285
*SUP 1: 99.270 Alternating daily support/resistance
*SUP 2: 99.240 Repeated daily lows Apr/May
*SUP 3: 99.230 100-DMA
*SUP 4: 99.210 High Apr 20 now support
*COMMENTARY: The contract has found support ahead of the 100-DMA this week
providing the base for a rally and close above 99.270 Thursday that now sees
immediate focus on the 200-DMA. Bulls look for a close above the 200-DMA to
shift focus to 99.340-370 where 2018 highs are noted. Bears now look for a close
below 99.270 to gain breathing room and below 99.210 to confirm traction below
the 100-DMA and initially target 99.145-160.

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.