Free Trial

(Z17) 112.180 Resistance Remains Key...>

SCHATZ TECHS
SCHATZ TECHS: (Z17) 112.180 Resistance Remains Key
*RES 4: 112.230 Low Sept 8 & 11 now resistance 
*RES 3: 112.214 100-DMA 
*RES 2: 112.180 High Sept 25 
*RES 1: 112.169 21-DMA
*PREVIOUS CLOSE: 112.165
*SUP 1: 112.135 Alternating hourly support/resistance 
*SUP 2: 112.110 Low Oct 3 
*SUP 3: 112.090 Low Sept 28 
*SUP 4: 112.072 Bollinger band base
*COMMENTARY: The contract remains capped ahead of 112.180 with hesitation around
the 21-DMA. The lack of follow through and bounce from 112.090 was less than
ideal for bears who are focused on 112.065-090. Bears now need a close below
112.065 to hint at a move back to 111.760 with below 112.015 to confirm. Bulls
need a close above 112.180 to confirm a break of the 21-DMA and initially
pressure 112.214-230 where the 100-DMA (112.222) is located.

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.