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(H4) 20-Day EMA Could Prove Key Into Weekly Close

SCHATZ TECHS
  • RES 4: 106.774 1.618 proj of the Nov 24 - 30 minor price swing
  • RES 3: 106.698 1.50 proj of the Nov 24 - 30 minor price swing
  • RES 2: 106.640 High Dec 29
  • RES 1: 106.621 1.382 proj of the Nov 24 - 30 minor price swing
  • PRICE: 106.260 @ 08:09 GMT Jan 05
  • SUP 1: 106.225 Low Jan 05
  • SUP 2: 106.160 Low Dec 15
  • SUP 3: 105.955 Low Dec 13 and key short-term support
  • SUP 4: 105.780 Low Dec 1

Weakness across German bond futures helped press Schatz through the 20-day EMA - a level that could prove key into the weekly close at 106.289. Thursday saw prices break and close below the level, signalling a short-term deterioration in momentum. Further weakness opens 106.160 and the key short-term support of 105.955. Any recovery and close back above the 20-day EMA needs to stabilise above 106.432 before a further rally can be considered.

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