Free Trial

(M2) Bearish Theme Remains Intact

SCHATZ TECHS
  • RES 4: 110.855 High Apr 4
  • RES 3: 110.690 High May 12 and the reversal trigger
  • RES 2: 110.500 High May 26
  • RES 1: 110.325 20-day EMA
  • PRICE: 110.095 @ 05:27 BST June 1
  • SUP 1: 109.980 Low May 6 and bear trigger
  • SUP 2: 109.777 0.618 proj of the Mar 7 - 30 - Apr 4 price swing
  • SUP 3: 109.555 Low Oct 31 2011 (cont)
  • SUP 4: 109.340 Low Oct 28 011 (cont)

Schatz futures traded through initial support yesterday of 110.110, May 18 low. A continuation lower has refocused attention on the bear trigger at 109.980, May 6 low, where a break would resume the primary downtrend. Moving average studies remain in a bear mode highlighting the broader market sentiment. Initial firm resistance has been defined at 110.500, the May 26 high.

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.