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(H3) Holding On To Its Recent Gains

SCHATZ TECHS
  • RES 4: 106.517 76.4% retracement of the Dec 2 - Jan 2 bear leg
  • RES 3: 106.370 Low Dec 12
  • RES 2: 106.296 61.8% retracement of the Dec 2 - Jan 2 bear leg
  • RES 1: 106.155 High Jan 18
  • PRICE: 106.100 @ 06:01 GMT Jan 18
  • SUP 1: 105.862 20-day EMA
  • SUP 2: 105.735 Low Jan 16
  • SUP 3: 105.375 Low Jan 11
  • SUP 4: 105.625 Low Jan 10

Schatz futures maintain a positive short-term tone and the contract is holding on to its recent gains. Price has recently cleared the 20-day EMA and this reinforced short-term bullish conditions. The focus is on a climb towards 106.296, 61.8% of the Dec 2 - Jan 2 bear leg. On the downside, the firm support to watch lies at 105.735, the Jan 16 low. A break would signal a potential reversal.

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