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(U9) Bulls still in control, support...>
SCHATZ TECHS: (U9) Bulls still in control, support lies at 112.220
*RES 4: 112.669 5.618 Fibo swing projection of May 10-15 move from May 22 low
*RES 3: 112.549 4.618 Fibo swing projection of May 10-15 move from May 22 low
*RES 2: 112.429 3.618 Fibo swing projection of May 10-15 move from May 22 low
*RES 1: 112.325 Contract high, Jun 18
*PRICE: 112.265 @ 02.57 GMT June 25
*SUP 1: 112.220 Low Jun 19 and 21
*SUP 2: 112.160 Low Jun 19 and key near-term support
*SUP 3: 112.100 Trendline support drawn off the May 10 low
*SUP 4: 112.035 Low June 6
U9 Schatz remains in an uptrend and any short-term pullbacks are being viewed as
a correction. Last Tuesday's strong rally marks the most recent key technical
development. In candlestick terms, that day is a standard line which is a
continuation pattern, reinforcing the bullish outlook. Furthermore, a clear
overall price sequence of higher highs and higher lows dominates. Initial
support has been defined at 112.220 with the bull trigger is at 112.325.
To read the full story
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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.