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(H2) Remain Below Last Week’s High

SCHATZ TECHS
  • RES 4: 112.176 112.265 High Dec 20 and a key resistance
  • RES 3: 112.250 High Dec 21
  • RES 2: 112.176 76.4% retracement of the Dec 20 - Jan 19 downleg
  • RES 1: 112.070/145 High Jan 27 / High Jan 24
  • PRICE: 111.995 @ 05:14 GMT Jan 30
  • SUP 1: 111.980 Low Jan 21
  • SUP 2: 111.890 Low Jan 19 and the bear trigger
  • SUP 3: 112.861 1.618 proj of the Nov 26 - Dec 16 - 20 price swing
  • SUP 4: 111.824 1.764 proj of the Nov 26 - Dec 16 - 20 price swing

Schatz futures have pulled back from recent highs. The recent rally in price resulted in a move through the 20- and 50-day EMAs. This still signals potential for a near-term corrective climb towards 112.176, a Fibonacci retracement. Clearance of this retracement would strengthen bullish conditions and open 112.265 further out, the Dec 20 high. The trend condition is bearish though and the key support and bear trigger is at 111.890.

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