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(H2) Probes A Key Resistance

SCHATZ TECHS
  • RES 4: 112.305 High Nov 26
  • RES 3: 112.285 High Nov 30
  • RES 2: 112.265, High Dec 20
  • RES 1: 112.165 High Feb 28
  • PRICE: 112.095 @ 05:22 GMT Mar 1
  • SUP 1: 111.815/635 Low Feb 28 / Low Feb 23
  • SUP 2: 111.545/420 Low Feb 15 / Low Feb 11
  • SUP 3: 111.250 Low Feb 7
  • SUP 4: 111.185 Low Jun 26, 2015 (cont)

Schatz futures remain in a bullish short-term cycle. The move higher is still considered a correction, however, price has cleared a number of resistance levels. The 50-day EMA has been breached and price has probed the 112.145 key resistance point, the Jan 24 high. A clear breach of this hurdle would further strengthen bullish conditions and open 112.265, the Dec 20 high. Initial support is seen at yesterday’s low of 111.815.

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