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(H4) Clears Key Support

SCHATZ TECHS
  • RES 4: 106.432 76.4% retracement of the Dec 29 - Jan 25 bear leg
  • RES 3: 106.304 61.8% retracement of the Dec 29 - Jan 25 bear leg
  • RES 2: 106.270 High Jan 5 and key short-term resistance
  • RES 1: 105.972 20-day EMA / High Jan 31 and key resistance
  • PRICE: 105.720 @ 05:19 GMT Feb 8
  • SUP 1: 105.685 Low Nov 30
  • SUP 2: 105.660 High Nov 17
  • SUP 3: 105.470 Low Nov 28
  • SUP 4: 105.260 Low Nov 24 and a key support

A downtrend in Schatz futures remains intact and this week’s move lower, reinforces this condition. The contract has breached support at 105.760, the Jan 25 low and bear trigger. The clear break of the support confirms a resumption of the bear cycle that started Dec 29 and maintains the price sequence of lower lows and lower highs. The focus is on 105.660, the Nov 16 high. Key resistance has been defined at 106.215.

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