Free Trial

(M18) Rally Reaches Top Of.............>

SCHATZ TECHS: (M18) Rally Reaches Top Of 112.000-112.020 Target Zone
*RES 4: 112.060 76.4% Fibo of 112.300-111.590
*RES 3: 112.040 0.1% volatility band
*RES 2: 112.020 Dec 19 low, May 21 high
*RES 1: 112.000 Hourly resistance
*PRICE: 112.000 @0745GMT
*SUP 1: 111.940 May 4, May 10 highs, now support
*SUP 2: 111.900 Congestion area May 2-10
*SUP 3: 111.880 May 17, May 18 lows
*SUP 4: 111.840 May 15 low
*COMMENTARY* Had continued to build on support found toward the end of last
month from 111.830. Friday's move above the previously troublesome 111.940 area
was rewarded on Monday with a break through the Mar 28 high at 111.990 and the
swing target at 112.000. The Dec 19 low at 112.020, also the level of the upper
0.1% volatility band at the time, proved a bridge too far. 111.940 now reverts
to support, with 111.900 currently more important below.

To read the full story

Why Subscribe to


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.