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(H3) Remains Vulnerable

SCHATZ TECHS
  • RES 4: 106.370 Low Dec 12
  • RES 3: 106.296 61.8% retracement of the Dec 2 - Jan 2 bear leg
  • RES 2: 106.025/106.155 High Jan 25 / 18 and the bull trigger
  • RES 1: 105.920 High Jan 30
  • PRICE: 105.725 @ 05:44 GMT Feb 1
  • SUP 1: 105.664/660 61.8% of the Jan 2 - 18 bull cycle / Low Jan 30
  • SUP 2: 105.548 76.4% retracement of the Jan 2 - 18 bull cycle
  • SUP 3: 105.480 Low Jan 3
  • SUP 4: 105.360 Low Jan 2 and the bear trigger

Schatz futures traded lower Monday. The contract has breached support at 105.735, the Jan 16 low. The break lower signals potential for a deeper retracement and this has opened 105.664 (pierced) and 105.548, Fibonacci retracement points. Firm resistance to watch has been defined at 106.025, Jan 25 high. A break would be bullish and expose the bull trigger at 106.155, the Jan 18 high. Initial resistance is at 105.920, Monday’s high.

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