Free Trial

(U9) Fails to hold onto contract.......>

SCHATZ TECHS
SCHATZ TECHS: (U9) Fails to hold onto contract high
*RES 4: 112.718 2.618 projection of Jul 10 - 24 rally from Jul 26 low
*RES 3: 112.677 2.382 projection of Jul 10 - 24 rally from Jul 26 low
*RES 2: 112.674 Bull channel top drawn off the Jun 6 low
*RES 1: 112.610 Cont high Sep 3 & 2.00 proj of Jul 10 - 24 rally from Jul 26 low
*PRICE: 112.545 @ 03:21 GMT Sep 4
*SUP 1: 112.510 Low Aug 26 and Aug 28
*SUP 2: 112.430 Low Aug 22
*SUP 3: 112.437/430 Bull channel base drawn off May 6 low / Low Aug 22
*SUP 4: 112.385 High Jul 24
U9 Schatz rallied to a fresh contract high of 112.610 yesterday before selling
pressure dragged prices lower. The top of the bull channel drawn off the May 6
low, is at 112.674. A break of 112.610 would confirm a resumption of the uptrend
however, a strong band of resistance is likely within the 112.610/674 zone. On
the downside, initial support lies at 112.510. A break would allow for a deeper
pullback towards the broader 112.437 trend support, the channel base.

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.