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(H1) Needle Still Points South

SCHATZ TECHS
  • RES 4: 112.365 High Jan 27
  • RES 3: 112.273/112.290 50-day EMA/High Feb 11 and key resistance
  • RES 2: 112.245 High Feb 18
  • RES 1: 112.227 20-day EMA
  • PRICE: 112.120 @ 05:08 GMT Feb 26
  • SUP 1: 112.110 Low Feb 25
  • SUP 2: 112.000 76.4% 2019 - 2020 Rally
  • SUP 3: 111.990 Low Aug 26 2020
  • SUP 4: 111.910 Low June 5 2020

The bearish stance in Schatz futures was cemented Thursday, with prices spiralling lower and narrowing the gap with 2020 lows. Attention is on further bearish pressure towards 111.990 and 111.910, a break through which would be a very negative signal. Trend resistance has been defined at 112.290, Feb 11 high.

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