CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(Z3) Corrective Bull Cycle Still In Play

SCHATZ TECHS
  • RES 4: 105.560 High Sep 1
  • RES 3: 105.440 High Sep 4
  • RES 2: 105.372 76.4% Fibonacci retracement Sep 1 - 21 downleg
  • RES 1: 105.335 High Nov 2
  • PRICE: 105.210 @ 05:23 GMT Nov 8
  • SUP 1: 105.085 Low Nov 6 / 7
  • SUP 2: 104.940/765 Low Oct 26 / Low Sep 21 and the bear trigger
  • SUP 3: 104.720 2.00 proj of the Aug 24 - 30 - Sep 1 price swing
  • SUP 4: 104.620 Low Jul 11 (cont)

The broader trend outlook in Schatz futures is bearish and recent gains are considered corrective - for now. However, the contract did pierce resistance last week at 105.320, the Oct 10 high. A clear breach of this level would strengthen the short-term bullish condition and signal scope for a stronger corrective cycle. This would open 105.372, a Fibonacci retracement. Firm support is at 104.940, the Oct 26 low. A break would be bearish.

Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.