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(H1) Attention Is On Key Support

SCHATZ TECHS
  • RES 4: 112.390 High Dec 16
  • RES 3: 112.350 High Dec 21 / 22
  • RES 2: 112.330 High Jan 4 / 5 and a reversal trigger
  • RES 1: 112.299 20-day EMA
  • PRICE: 112.275 @ 05:27 GMT Jan 14
  • SUP 1: 112.240 Low Jan 12
  • SUP 2: 112.235 Low Dec 23 and the bear trigger
  • SUP 3: 112.210 Low Sep 1 (cont)
  • SUP 4: 112.195 High Jul 31 (cont)
Despite a recent bounce, Schatz futures remain bearish following last week's failure at 112.330, Jan 4 and 5 highs and the subsequent sell-off. Attention is on support at 112.235, Dec 23 low and a bear trigger. A break would highlight a stronger bearish outlook and signal scope for a deeper pullback, extending the downleg that has been in place since early November. On the upside, clearance of 135.330 is needed to reinstate a bullish focus.
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