Free Trial

(Z17) Correction Continues, Focus On...>

SCHATZ TECHS
SCHATZ TECHS: (Z17) Correction Continues, Focus On 112.050-112.000 Next
*RES 4: 112.200 Sep 15 high
*RES 3: 112.170 Sep 13 low, now resistance
*RES 2: 112.140 Sep 19 high
*RES 1: 112.110 Hourly resistance
*PRICE: 112.090 @1456GMT
*SUP 1: 112.060 Intraday low
*SUP 2: 112.050 0.1% volatility band
*SUP 3: 112.030 Aug 17 low
*SUP 4: 112.000/010 Aug 1 high, 50% Fibo of 111.730-112.280
*COMMENTARY* This month saw a rally through the swing target at 112.220, a high
of 112.280 attained, before again submitting to some overbought conditions. This
so far leaves us shy of a look at the swing target at 112.320 and Fibo retrace
level at 112.330. Meanwhile support from 112.170 and now 112.090 has gone. Loss
here cautions and suggests a deeper correction of gains from July's 111.73 low
is required, 112.050-112.000 next supports.

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.