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Free Access(M4) Watching Resistance
- RES 4: 105.790 High Mar 25 and key resistance
- RES 3: 105.680 High Apr 12
- RES 2: 105.506 50-day EMA
- RES 1: 105.395 High May 3
- PRICE: 105.375 @ 05:30 BST May 16
- SUP 1: 105.150/045 Low May 14 / Low Apr 30 and the bear trigger
- SUP 2: 105.000 Round number support
- SUP 3: 104.917 1.764 proj of the Aug 8 - Mar 18 - Mar 25 price swing
- SUP 4: 104.800 2.00 proj of the Mar 8 - 18 - 25 price swing
The trend direction in Schatz futures remains down, however, yesterday’s rally has exposed key short-term resistance at 105.395, the May 3 high. A clear break of this hurdle would highlight a potential reversal and expose resistance at the 50-day EMA, at 105.506. Clearance of this average would strengthen a bullish condition. Key support to watch lies at 105.150, the May 14 low. A break would instead signal a resumption of the bear trend.
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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.