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(H2) Attention Is On Resistance

SCHATZ TECHS
  • RES 4: 112.375 1.382 proj of the Nov 16 - 26 - Dec 1 price swing
  • RES 3: 112.350 1.236 proj of the Nov 16 - 26 - Dec 1 price swing
  • RES 2: 112.305 High Nov 26 and the bull trigger
  • RES 1: 112.205/235 High Dec 13 / High Dec 2 / 3
  • PRICE: 112.180 @ 05:28 GMT Dec 17
  • SUP 1: 112.055 Low Dec 16
  • SUP 2: 112.031 1.236 proj of the Nov 26 - Dec 1 - Dec 3 price swing
  • SUP 3: 112.007 1.382 proj of the Nov 26 - Dec 1 - Dec 3 price swing
  • SUP 4: 112.000 Round number support

Schatz futures faced strong selling pressure yesterday trading to 112.055 before rebounding. The contract is back inside its recent range. Yesterday’s low has been defined as a key support. With price action holding onto gains, attention is on resistance at 112.235, the Dec 2 / 3 high. A break would be a bullish development and would open resistance at 112.305, the Nov 26 high. A breach of 112.055 would see bearish pressure return.

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