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Free Access(Z17) Above 112.240 To Ease Bearish....>
SCHATZ TECHS: (Z17) Above 112.240 To Ease Bearish Pressure
*RES 4: 112.285 High Nov 15
*RES 3: 112.260 21-DMA
*RES 2: 112.240 Low Oct 27 now resistance
*RES 1: 112.230 High Nov 27
*PREVIOUS CLOSE: 112.220
*SUP 1: 112.185 Low Nov 28
*SUP 2: 112.150 Low Oct 25
*SUP 3: 112.117 100-DMA
*SUP 4: 112.105 Low Oct 6
*COMMENTARY: Time spent below the 55-DMA (112.204) was brief. Bulls still need a
close above 112.240 to ease bearish pressure and above 112.285 to return focus
to 112.315. Initial support is now noted at 112.185 with bears needing a close
below to retain immediate focus on 112.150 and overall focus on 112.065-119
where the 100-DMA and monthly lows are situated. Daily studies correcting from
O/S is a concern for bears but 112.240 is key.
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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.