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(H1) Extends Recovery Off Recent Lows

SCHATZ TECHS
  • RES 4: 112.410 High Dec 15
  • RES 3: 112.390 High Dec 16
  • RES 2: 112.350 High Dec 21/22 and key S/T resistance
  • RES 1: 112.330 High Jan 4 and intraday high
  • PRICE: 112.325 @ 04:51 GMT Jan 5
  • SUP 1: 112.255 Low Dec 30
  • SUP 2: 112.235 Low Dec 23
  • SUP 3: 112.210 Low Sep 1 (cont)
  • SUP 4: 112.195 High Jul 31 (cont)
Schatz futures traded higher yesterday and the contract is holding onto its gains. The recovery threatens the bearish implications of the sharp Dec 23 sell-off. Further gains would open resistance at 112.350, Dec 21/22 high where a break would signal scope for a stronger short-term recovery. On the downside, initial firm support has been defined at 112.255, Dec 30 low. Key support remains 112.235, Dec 28 low.

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