Free Trial

TECHS:(U9): Bull trend intact *RES 4: 135.12...>

BTPS
BTPS: TECHS:(U9): Bull trend intact
*RES 4: 135.12 Bull channel top drawn off the May 31 low
*RES 3: 135.00 Round number resistance
*RES 2: 134.94 2.618 Fibo swing projection of May15-May 27 rally from May 31 low
*RES 1: 134.72 U9 contract high June 18
*PRICE: 133.97 @ Close June 19
*SUP 1: 132.36 Trendline support drawn off the May 31 low
*SUP 2: 132.14 High Jun 7
*SUP 3: 132.10 Low Jun 18
*SUP 4: 131.45 Low Jun 14
U9BTS Remains in an uptrend following Tuesday's sharp rally. Momentum studies
have moved into overbought territory. This suggests a pause is possible
near-term and is not seen as a threat to bulls at this stage. Further gains are
expected overall. Trendline support today lies 132.36. The recent breakout level
of 132.14 also represents an important trend support. Potential is seen for a
climb towards the Fibonacci swing projection of 134.94.

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.