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(H1) Remains Closer To Recent Lows

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: 112.358 20-day EMA
  • PRICE: 112.330 @ 05:08 GMT Dec 23
  • SUP 1: 112.330 Low Dec 18 and the bear trigger
  • SUP 2: 112.280 Low Dec 3 (cont)
  • SUP 3: 112.265 Low Dec 2 (cont) and a key support
  • SUP 4: 112.255 Low Oct 7 (cont)
Schatz futures traded sharply lower Dec 16 and on Dec 18 breached key support at 112.290, Dec 2 low. This reinforced the current bearish theme and despite recovering off the Dec 18 low of 112.285, the outlook still appears bearish. A break of 112.285 would open 112.265, Dec 2 low on the continuation chart. On the upside, initial firm resistance is seen at 112.390, Dec 16 high. A break alters the picture.

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