Free Trial

(U3) Watching Support

SCHATZ TECHS
  • RES 4: 105.325 High Jun 14
  • RES 3: 105.295 High Aug 8 and a key resistance
  • RES 2: 105.255 High Aug 9
  • RES 1: 105.230 High Aug 24
  • PRICE: 104.925 @ 05:41 BST Aug 30
  • SUP 1: 104.905/760 Low Aug 23 / 15 and the bear trigger
  • SUP 2: 104.741 76.4% retracement of the Jul 6 - Aug 8 bull leg
  • SUP 3: 104.620/104.570 Low Jul 11 / 6 and the bear trigger
  • SUP 4: 104.470 2.00 projection of the Jun 1 - 8 - 12 price swing

Schatz futures rallied on Aug 23 resulting in a move above both the 20- and 50-day EMAs. The break higher signals scope for a stronger short-term recovery and an extension would expose the next key resistance at 105.295, the Aug 8 high. Moving average studies continue to highlight a medium-term downtrend and this suggests recent gains are part of a corrective cycle. Support to watch lies at 104.905, the Aug 23 low. A break would be bearish.

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.