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(H2) Key Short-Term Support Intact

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: 112.235 High Dec 2 / 3
  • PRICE: 112.155 @ 05:12 GMT Dec 8
  • SUP 1: 112.140 Low Dec 1 and key near-term support
  • SUP 2: 112.109 0.764 proj of the Nov 26 - Dec 1 - Dec 3 price swing
  • SUP 3: 112.100 Round number support
  • SUP 4: 112.070 1.000 proj of the Nov 26 - Dec 1 - Dec 3 price swing

Schatz futures outlook remains bullish despite the continued pullback from recent highs. The contract recently probed resistance at 112.300, Nov 22 high. A clear break would confirm a resumption of the short-term uptrend that started late October and open 112.350, a Fibonacci projection. On the downside, initial support to watch lies at 112.140, Dec 1 / 7 low. Clearance of this level would alter the short-term outlook and instead expose 112.100.

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