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Free Access(Z9) Bear flag *RES 4: 112.565 High....>
SCHATZ TECHS: (Z9) Bear flag
*RES 4: 112.565 High Sep 6 high
*RES 3: 112.520 High Sep 10 and 12
*RES 2: 112.409 Trendline resistance drawn off the Sep 3 high
*RES 1: 112.250 High Sep 17
*PRICE: 112.202 @ 03:44 GMT Sep 18
*SUP 1: 112.165 Low Sep 13
*SUP 2: 112.115 3.000 projection of Sep 6 - Sep11 decline from Sep 12 high
*SUP 3: 112.032 3.618 projection of Sep 6 - Sep11 decline from Sep 12 high
*SUP 4: 112.000 Round number support
Z9 Schatz is consolidating. This phase appears to be developing into a bear flag
formation, a continuation pattern that reinforces the underlying bearish theme,
particularly following the steep slide Thursday. Support at the 2.618 projection
of the Sep 6 - Sep 11 decline from Sep 12 high, at 112.167 is holding for now
with only a brief test below it Friday. A break of Friday's 112.165 low would
open 112.167/032. Trend resistance is at 112.409.
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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.