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(H4) Bears Remain In The Driver’s Seat

SCHATZ TECHS
  • RES 4: 106.070 High Feb 2
  • RES 3: 105.803 20-day EMA
  • RES 2: 105.760 Low Jan 25 and a recent breakout level
  • RES 1: 105.665 High Feb 9
  • PRICE: 105.565 @ 05:48 GMT Feb 15
  • SUP 1: 105.415 Low Feb 13
  • SUP 2: 105.315 1.764 projection of the Jan 12 - 25 - 31 price swing
  • SUP 3: 105.260 Low Nov 24 and a key support
  • SUP 4: 105.195 2.00 projection of the Jan 12 - 25 - 31 price swing

A downtrend in Schatz futures remains intact and Tuesday’s move lower confirms once again, a resumption of the current bear cycle. This maintains the bearish price sequence of lower lows and lower highs and note too that moving average studies are in a bear mode position. Sights are on 105.260, the Nov 24 low. On the upside, initial firm resistance is seen at 105.760, the Jan 25 low. Short-term gains are considered corrective.

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