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(H1) Key Support Remains Exposed

SCHATZ TECHS
  • RES 4: 112.450 High Dec 11 and key resistance
  • RES 3: 112.410 High Dec 15
  • RES 2: 112.390 High Dec 16
  • RES 1: 112.345 5.0% of Wednesday's range
  • PRICE: 112.315 @ 05:01 GMT Dec 18
  • SUP 1: 112.300 Low Dec 16
  • SUP 2: 112.290 Low Dec 2 and the bear trigger
  • SUP 3: 112.280 Low Dec 3 (cont)
  • SUP 4: 112.265 Low Dec 2 (cont) and a key support

Schatz futures traded sharply lower Wednesday as the contract retraces recent gains between Dec 2 - 11. The sharp pullback resulted in price trading through all key retracement levels. This leaves the firm support at 112.290, Dec 2 low exposed. A break would strengthen a bearish theme signalling scope for a deeper pullback. On the upside, initial firm resistance is seen at Wednesday's high of 112.390.

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