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Free Access(Z2) Bearish Trend Structure
- RES 4: 109.280 High Aug 17
- RES 3: 109.000 Round number resistance
- RES 2: 108.845 High Aug 25
- RES 1: 108.045/570 High Sep 9 / 6 and key short-term resistance
- PRICE: 107.925 @ 05:20 BST Sep 13
- SUP 1: 107.670 Low Sep 9
- SUP 2: 107.470 1.00 proj of the Aug 25 - Sep 1 - Sep 2 price swing
- SUP 3: 107.253 1.236 proj of the Aug 25 - Sep 1 - Sep 2 price swing
- SUP 4: 107.00 Round number support
Schatz futures traded lower once again last Friday. The trend direction is down and the move lower confirms a resumption of the bear cycle. This maintains the current bearish price sequence of lower lows and lower highs with moving average studies in a bear mode position. The focus is on 107.470, a Fibonacci projection. On the upside, initial firm firm resistance is seen at 108.570, the Sep 6 high.
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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.