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Free Access(U1) Short-Term Positive Theme Intact
- RES 4: 112.210 High Jun 11 and the bull trigger
- RES 3: 112.205 High Jun 14
- RES 2: 112.185 High Jun 15 and 16
- RES 1: 112.175 High Jun 17, 18 and high Jul 2
- PRICE: 112.145 @ 05:20 BST Jul 6
- SUP 1: 112.135 Low Jul 1
- SUP 2: 112.110 Congestion lows Apr 20, Jun 22, 23, 25 and 28
- SUP 3: 112.086 138.2% retracement of the May17 - Jun 11 rally
- SUP 4: 112.075 150.0% retracement of the May17 - Jun 11 rally
Schatz futures traded higher last week. The recent short-term recovery from the 112.110 congestion lows suggests scope for a continuation higher. Attention has turned to the key resistance at 112.210, Jun 11 high where a break would strengthen a bullish case. On the downside, clearance of 112.110 would instead reinstate a bearish theme. Initial support lies at 112.135, Jul 1 low.
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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.