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Free Access(U17) Bears Need Close Below 112.010...>
SCHATZ TECHS: (U17) Bears Need Close Below 112.010
*RES 4: 112.130 Daily Bull channel top
*RES 3: 112.110 Low May 30 now resistance
*RES 2: 112.090 High June 16
*RES 1: 112.070 High July 27
*PREVIOUS CLOSE: 112.050
*SUP 1: 112.040 Low July 27
*SUP 2: 112.010 Hourly support July 26
*SUP 3: 111.990 Low July 15
*SUP 4: 111.980 Daily Bull channel base
*COMMENTARY: Higher daily highs and lows continue which adds support to the
bullish case. Layers of resistance remain 112-090/110 with bulls needing a close
above to confirm a break of the 100-DMA (112.050) and target 112-180/230. Layers
of support continue to accumulate with bears needing a close below 112.010 to
shift focus back to 111.950-980 where the daily bull channel base is located.
Daily studies lingering at O/B is the key concern for bulls.
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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.