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(H4) Bearish Price Sequence Extends

SCHATZ TECHS
  • RES 4: 105.751 50-day EMA
  • RES 3: 105.585 High Feb 15
  • RES 2: 105.553 20-day EMA
  • RES 1: 105.410 High Feb 21
  • PRICE: 105.295 @ 05:37 GMT Feb 26
  • SUP 1: 105..075 Low Feb 23
  • SUP 2: 105.000 2.236 projection of the Jan 12 - 25 - 31 price swing
  • SUP 3: 104.940 2.50 projection of the Jan 12 - 25 - 31 price swing
  • SUP 4: 104.880 2.618 projection of the Jan 12 - 25 - 31 price swing

The downtrend in Schatz futures remains intact and last week’s extension reinforces current conditions. The move down maintains the bearish price sequence of lower lows and lower highs and note too that moving average studies remain in a bear mode position. Short-term gains are considered corrective with firm resistance at the 20-day EMA - at 105.53. The next objective is 105.00, a Fibonacci projection.

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