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Free Access(Z9) Consolidating *RES 4: 112.565.....>
SCHATZ TECHS: (Z9) Consolidating
*RES 4: 112.565 High Sep 6 high
*RES 3: 112.520 High Sep 10 and 12
*RES 2: 112.436 Trendline resistance drawn off the Sep 3 high
*RES 1: 112.250 Intraday high
*PRICE: 112.235 @ 03:43 GMT Sep 17
*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 with bearish pressure pausing for now following the
sharp slide Thursday. Price action is finding support at the 2.618 projection of
the Sep 6 - Sep 11 decline from Sep 12 low, that intersects at 112.167. Momentum
conditions are oversold, however it is too early to determine whether the
current downtrend has found a meaningful base. A clear break of Friday's 112.165
low would open 112.167 and 112.032. Trend resistance is at 112.436.
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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.