Free Trial

(U17) Pressuring Support Layers *RES...>

SCHATZ TECHS
SCHATZ TECHS: (U17) Pressuring Support Layers
*RES 4: 112.160 55-WMA 
*RES 3: 112.140 21-WMA 
*RES 2: 112.130 High Aug1 
*RES 1: 112.110 High Aug 4
*PREVIOUS CLOSE: 112.070
*SUP 1: 112.055 Low Aug 7 
*SUP 2: 112.050 100-DMA, Daily bull channel base 
*SUP 3: 112.030 55-DMA 
*SUP 4: 112.020 21-DMA
*COMMENTARY: Hesitation ahead of the 21-WMA is less than ideal for bulls with
daily studies at O/B levels & the Bollinger top (112.150) limiting follow
through. In saying that, layers of support 112.020-055 remain key. Bears need a
close below 112.020 to confirm an easing of bullish pressure and shift immediate
focus to 111.950-970. Bulls now need a close above 112.110 to gain breathing
room and above the 55-WMA to reconfirm a bullish bias targeting 112.180-230.

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.