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(H1) Clears Key Resistance

SCHATZ TECHS
  • RES 4: 112.460 161.8% retracement proj of Nov 30 - Dec 2 sell-off
  • RES 3: 112.447 150.0% retracement proj of Nov 30 - Dec 2 sell-off
  • RES 2: 112.435 138.2% retracement proj of Nov 30 - Dec 2 sell-off
  • RES 1: 112.420 Intraday high
  • PRICE: 112.400 @ 05:08 GMT Dec 8
  • SUP 1: 112.360 Low Dec 4
  • SUP 2: 112.305 Low Dec 3
  • SUP 3: 112.290 Low Dec 2 and the bear trigger
  • SUP 4: 112.270 1.00 proj of Nov 30 - Dec 2 sell-off from Dec 3 high
Schatz futures started the week on a firm note and traded higher yesterday. Gains Monday resulted in a break of resistance at 112.395, Nov 30 high. This negates the recent bearish focus and instead confirms a resumption of the bullish leg that started Dec 2. The break paves the way for a climb towards 112.435, a Fibonacci retracement extension. On the downside, initial support is seen at 112.360, Dec 4 low.

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