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(H3) Clears Support

SCHATZ TECHS
  • RES 4: 107.023 1.764 proj of the Nov 1 - 24 - 28 price swing
  • RES 3: 106.875 High Dec 2 and the bull trigger
  • RES 2: 106.680 High Dec 13
  • RES 1: 106.335 Low Nov 28 and a recent breakout level
  • PRICE: 105.964 @ 05:46 GMT Dec 16
  • SUP 1: 105.915 1.50 projection of the Dec 2 - 13 price swing
  • SUP 2: 105.855 1.618 projection of the Dec 2 - 13 price swing
  • SUP 3: 105.660 2.00 projection of the Dec 2 - 13 price swing
  • SUP 4: 105.540 2.236 projection of the Dec 2 - 13 price swing

Schatz futures traded sharply lower 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 105.915 and 105.855, Fibonacci projections. On the upside, 106.335 marks initial 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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