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(H1) Attention Remains On 112.330 Resistance

SCHATZ TECHS
  • RES 4: 112.368 61.8% retracement of the Dec 11 - 28 downleg
  • RES 3: 112.350 High Dec 21 / 22
  • RES 2: 112.330 High Jan 4 / 5 and 15 and a reversal trigger
  • RES 1: 112.298 20-day EMA
  • PRICE: 112.275 @ 04:21 GMT Jan 20
  • SUP 1: 112.260 Low Jan 19
  • SUP 2: 112.240 Low Jan 12
  • SUP 3: 112.235 Low Dec 23 and the bear trigger
  • SUP 4: 112.210 Low Sep 1 (cont)

Schatz futures maintain a positive outlook despite the most recent pullback. The near-term focus is on 112.330, Jan 4, 5 and 15 highs. A break of this hurdle would strengthen a bullish case and also highlight a potential reversal exposing initially the resistance at 112.350, Dec 21 and 22 high. On the downside, key support is at 112.235, Dec 28 low. Clearance of this support would resume the downtrend.

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