Free Trial

(Z0) Sell-Off Likely To Extend Near-Term

SCHATZ TECHS
  • RES 4: 112.475 High Nov 5
  • RES 3: 112.450 High Nov 9
  • RES 2: 112.407 20-day EMA
  • RES 1: 112.365 Low Oct 26 and a recent breakout level
  • PRICE: 112.330 @ 04:57 GMT Nov 10
  • SUP 1: 112.310 Low Nov 9
  • SUP 2: 112.307 61.8% retracement of the Aug 26 - Nov 4 rally
  • SUP 3: 112.295 Low Oct 9
  • SUP 4: 112.261 76.4% retracement of the Aug 26 - Nov 4 rally

Schatz futures sold off sharply yesterday in a move that signals a potential trend reversal. The move lower resulted in a break of former support at 112.365, Oct 26 low reinforcing the significance of yesterday's change in direction. This highlights potential for weakness towards 112.307, a Fibonacci retracement and 112.295, Oct 9 low. On the upside, initial resistance is seen at 112.365.

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.