Free Trial

(Z9) Bullish Above Former Channel......>

SCHATZ TECHS
SCHATZ TECHS: (Z9) Bullish Above Former Channel Top
*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 @ 04:51 GMT Nov 18
*SUP 1: 111.978 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 last week cleared its bear channel resistance at 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 is required to further reinforce bullish conditions. Initial support for
today lies at 111.978, the former channel top. A strong break below this support
is needed to reinstate a bearish theme.

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.