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Free Access(Z9) Double top confirmed *RES 4:......>
SCHATZ TECHS: (Z9) Double top confirmed
*RES 4: 112.715 Contract high, Sep 3
*RES 3: 112.660 High Sep 4
*RES 2: 112.655 High Sep 5
*RES 1: 112.565 High Sep 6
*PRICE: 112.490 @ 02:56 GMT Sep 10
*SUP 1: 112.485 Low Sep 9 and intraday low
*SUP 2: 112.470 Low Aug 7
*SUP 3: 112.415 50-day EMA
*SUP 4: 112.345 Double top projection
Z9 Schatz selling pressure dominated yesterday and prices have now cleared key
support at 112.530, the low of Aug 22 which also marks the midpoint of a double
top reversal pattern now confirmed. This sets the scene for a deeper pullback
towards the 112.415 level which is where the 50-day EMA intersects. Momentum
studies are in a bear mode highlighting the current bearish theme. On the
upside, resistance is at 112.655.
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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.