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(H3) Pierces The 20-Day EMA

SCHATZ TECHS
  • RES 4: 106.118 50.0% retracement of the Dec 2 - Jan 2 bear leg
  • RES 3: 106.000 Round number resistance
  • RES 2: 105.939 38.2% retracement of the Dec 2 - Jan 2 bear leg
  • RES 1: 105.860 High Jan 11
  • PRICE: 105.810 @ 05:31 GMT Jan 12
  • SUP 1: 105.625/560 Low Jan 10 / 6
  • SUP 2: 105.360 Low Jan 2 and the bear trigger
  • SUP 3: 105.345 2.618 projection of the Dec 2 - 13 price swing
  • SUP 4: 105.270 2.764 projection of the Dec 2 - 13 price swing

Schatz futures maintain a positive short-term tone and the contract is trading at its recent highs. 105.808 marks a firm resistance, the 20-day EMA. It has been pierced and a clear break would strengthen short-term bullish conditions. This would open 105.939, a Fibonacci retracement. On the downside, a firm support to watch lies at 105.625, the Jan 10 low. A break would signal a reversal.

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