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(H2) Northbound

SCHATZ TECHS
  • RES 4: 112.708 1.500 proj of the Feb 2 - 22 - 23 price swing
  • RES 3: 112.623 1.382 proj of the Feb 2 - 22 - 23 price swing
  • RES 2: 112.519 1.236 proj of the Feb 2 - 22 - 23 price swing
  • RES 1: 112.465 High Mar 1
  • PRICE: 112.270 @ 05:09 GMT Mar 3
  • SUP 1: 112.010 Low Mar 1
  • SUP 2: 111.815/635 Low Feb 28 / Low Feb 23
  • SUP 3: 111.545 Low Feb 15
  • SUP 4: 111.420 Low Feb 11

Schatz futures rallied too on Tuesday. The climb gains resulted in a clear breach of resistance at 112.145, the Jan 24 high. The break significantly strengthens the current bullish outlook and the rally also confirms a full reversal of this year's initial bearish price action. With 112.305 also cleared, the Nov 26 high, scope is seen for gains towards 112.519, a Fibonacci projection. On the downside, support is seen at 112.010, Tuesday’s low.

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