Free Trial

(Z0) Remains Vulnerable

SCHATZ TECHS
  • RES 4: 112.450 High Nov 9
  • RES 3: 112.410 Low Nov 6
  • RES 2: 112.355/365 20-day EMA / Low Oct 26
  • RES 1: 112.340 High Nov 16
  • PRICE: 112.325 @ 05:15 GMT Nov 19
  • SUP 1: 112.275 Low Nov 11 and the bear trigger
  • SUP 2: 112.261 76.4% retracement of the Aug 26 - Nov 4 rally
  • SUP 3: 112.250 Low Sep 17
  • SUP 4: 112.210 Low Sep 10

Schatz futures are unchanged and remain within the recent range. The contract sold off Nov 9 in a move that signals a potential trend reversal and the outlook remains bearish. The move lower last week resulted in a break of former support at 112.365, Oct 26 low reinforcing the significance of the move lower on Nov 9. This highlights potential for weakness towards 112.261 next, a Fibonacci retracement. Initial firm resistance is seen at 112.365, Oct 26 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.