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(H3) Bearish Following Break Of Support

SCHATZ TECHS
  • RES 4: 106.875 High Dec 2 and the bull trigger
  • RES 3: 106.680 High Dec 13
  • RES 2: 106.570 High Dec 15
  • RES 1: 106.005/106.335 High Dec 16 / Low Nov 28
  • PRICE: 105.915 @ 05:34 GMT Dec 19
  • SUP 1: 105.805 Low Dec 16
  • SUP 2: 105.660 2.00 projection of the Dec 2 - 13 price swing
  • SUP 3: 105.540 2.236 projection of the Dec 2 - 13 price swing
  • SUP 4: 105.465 2.382 projection of the Dec 2 - 13 price swing

Schatz futures traded sharply lower last Thursday and in the process, cleared support at 106.335, the Nov 28 low. The break lower, signals potential for a deeper pullback. This has opened 105.660 and 105.540, Fibonacci projections. On the upside, 106.335 marks resistance. A firmer level is at 106.680, the Dec 13 high. A break of this level would refocus attention on the bull trigger at 106.875.

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