Free Trial

(U18) Unable To Deal With Triple.......>

SCHATZ TECHS
SCHATZ TECHS: (U18) Unable To Deal With Triple Resistance From 112.140
*RES 4: 112.210 61.8% Fibo of 112.420/111.860
*RES 3: 112.180 1.618 swing of 112.140-112.080, 0.1% vol
*RES 2: 112.140 50% Fibo of 112.420/111.860, Jun 21 high
*RES 1: 112.110/120 Hourly resistance
*PRICE: 112.080 @0740GMT
*SUP 1: 112.060 Jun 5, Jun 8 highs, now support
*SUP 2: 112.030 Jun 15 high, now support
*SUP 3: 112.000 Jun 20 low
*SUP 4: 111.970 Jun 18 low
*COMMENTARY* Last week's move above 112.060 has allowed a 112.140 rise so far,
this also an equality move from 111.970 to the prior 111.860-112.030 rally, seen
in the middle of the month. Will need to find the strength to break this triple
resistance area, before the chance of extending gains toward 112.180-112.210
next. In the interim, support from last Friday's 112.080 low has been lost,
allowing a pullback to 112.060-112.030, loss of the latter would concern.

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.