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(H1) Outlook Remains Bullish

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% retracement of yesterday's high
  • PRICE: 112.310 @ 05:07 GMT Dec 17
  • 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 yesterday as the contract retraces recent gains achieved between Dec 2 - 11. The sharp pullback has 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 yesterday's high of 112.390.

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