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(H1) Monitoring Key Resistance

SCHATZ TECHS
  • RES 4: 112.435 138.2% retracement proj of Nov 30 - Dec 2 sell-off
  • RES 3: 112.420 123.6% retracement proj of Nov 30 - Dec 2 sell-off
  • RES 2: 112.395 High Nov 30 and key resistance
  • RES 1: 112.385 Intraday high
  • PRICE: 112.375 @ 05:02 GMT Dec 7
  • 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 rebounded last week off 112.290, Dec 2 low. A bearish focus remains intact while resistance at 112.395, Nov 30 holds. This follows the sharp sell-off between Nov 30 - Dec 2 that saw price trade through key support levels and confirmed a resumption of the bearish phase that started early November. Scope is seen for a move towards 112.270 next, a Fibonacci projection. On the upside, key resistance is at 112.395.

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