Free Trial

(Z0) Recovery Intact

SCHATZ TECHS
  • RES 4: 112.342 2.618 proj of Aug 26 - 27 bounce from Aug 28 low
  • RES 3: 112.335 2.500 proj of Aug 26 - 27 bounce from Aug 28 low
  • RES 2: 112.328 2.382 proj of Aug 26 - 27 bounce from Aug 28 low
  • RES 1: 112.325 High Sep 8
  • PRICE: 112.315 @ 05:19 BST Sep 9
  • SUP 1: 112.280 Low Sep 7
  • SUP 2: 112.235 Low Sep 2
  • SUP 3: 111.190 Low Sep 1
  • SUP 4: 112.185 Low Aug 26, 27 and 28 and major support

Schatz futures have established a bullish tone following last week's strong rally and are holding onto gains. Last week's move resulted in a climb through the resistance area of 112.280, confirming a reversal off the Aug lows of 112.185, low Aug 26, 27 and 28. The break higher also confirms a double bottom reversal. Potential is seen for an extension higher with the focus on 112.328 next, a Fibonacci projection. Initial support is at 112.280, Sep 7 low.

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.