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Free Access(Z9) Bear Channel Resistance Cleared...>
SCHATZ TECHS: (Z9) Bear Channel Resistance Cleared
*RES 4: 112.165 Low Sep 13 and former breakout level
*RES 3: 112.105 High Oct 23/24
*RES 2: 112.080 High Nov 31 and Nov 1 and near-term upside trigger
*RES 1: 112.040 High Nov 14
*PRICE: 112.025 @ 05:06 GMT Nov 15
*SUP 1: 111.991 Former bear channel resistance
*SUP 2: 111.960 Low Nov 11
*SUP 3: 111.940 Low Nov 7
*SUP 4: 111.815 1.000 projection of Sep 3 - Sep 13 decline from Oct 3 high
Z9 Schatz continued to correct higher yesterday. Prices cleared the bear channel
resistance yesterday 112.005. The channel was drawn off the Sep 3 high. The
break signals scope for a stronger recovery and attention turns to resistance at
112.080, Nov 1 high. Clearance of this level would further reinforce bullish
conditions. Initial support for today lies at 111.991, the former channel top. A
strong break below this level is needed to reinstate a bearish theme.
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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.