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(H3) Support Remains Intact

SCHATZ TECHS
  • RES 4: 107.023 1.764 proj of the Nov 1 - 24 - 28 price swing
  • RES 3: 107.000 Round number resistance
  • RES 2: 106.920 1.50 proj of the Nov 1 - 24 - 28 price swing
  • RES 1: 106.680/875 High Dec 13 / 2 and the bull trigger
  • PRICE: 106.545 @ 05:26 GMT Dec 14
  • SUP 1: 106.365 Low Dec 12
  • SUP 2: 106.335 Low Nov 28 and key near-term support
  • SUP 3: 106.310 Low Nov 11
  • SUP 4: 106.215 Low Nov 9

Schatz futures traded higher Tuesday. The contract remains above support at the Nov 28 low of 106.335. The short-term outlook is bullish and the latest pullback is considered corrective. 106.335 marks a key short-term support and if breached would undermine the recent bullish theme. A resumption of gains would refocus attention on 106.875, the Dec 2 high and a bull trigger. A break of 106.875 resumes the recent uptrend.

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