Free Trial

(U3) Corrective Bounce

SCHATZ TECHS
  • RES 4: 105.975 High May 17
  • RES 3: 105.875 High Jun 1 and key short-term resistance
  • RES 2: 105.815 High Jun 4
  • RES 1: 105.655 High Jun 6 and key near-term resistance
  • PRICE: 105.490 @ 05:31 BST Jun 13
  • SUP 1: 105.335 Low Jun 6
  • SUP 2: 105.330 Low May 26 and key support
  • SUP 3: 105.000 Round number support
  • SUP 4: 104.960 Low Low Mar 13 (cont)

Schatz futures remain below 105.875, the Jun 1 high. The recent recovery is considered corrective - for now. A bearish theme remains intact and the focus is on key short-term support at 105.330, the May 26 low and bear trigger. Clearance of this support would confirm a resumption of the bear cycle that started in March and open the 105.00 handle. Key short-term resistance to watch is seen at 105.655, the Jun 6 high. A break would alter the picture.

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.