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(H2) Still Vulnerable

SCHATZ TECHS
  • RES 4: 112.155 High Dec 23
  • RES 3: 112.120 High Dec 27
  • RES 2: 112.058/080 20-day EMA / High Jan 6
  • RES 1: 112.000 High Jan 10
  • PRICE: 111.965 @ 05:26 GMT Jan 13
  • SUP 1: 111.935 Low Jan 11
  • SUP 2: 112.920 1.382 proj of the Nov 26 - Dec 16 - 20 price swing
  • SUP 3: 111.890 1.50 proj of the Nov 26 - Dec 16 - 20 price swing
  • SUP 4: 111.844 3.0% Lower Bollinger Band

The Schatz futures outlook remains bearish following last week’s extension lower and this week’s confirmed break of support at 111.985, Jan 3 low. This marks a resumption of the downtrend and paves the way for weakness towards 111.920 next, a Fibonacci projection. On the upside, initial firm resistance is seen at the 20-day EMA that intersects at 112.058. A break would ease bearish pressure.

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