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(H4) Downtrend Remains Intact

SCHATZ TECHS
  • RES 4: 106.640 High Dec 29 and the bull trigger
  • RES 3: 106.360 Low Jan 3
  • RES 2: 106.270 High Jan 5
  • RES 1: 106.117 20-day EMA
  • PRICE: 105.900 @ 05:549 GMT Jan 18
  • SUP 1: 105.780 Low Dec 1 and Jan 19
  • SUP 2: 105.730 Low Nov 30
  • SUP 3: 105.660 High Nov 17
  • SUP 4: 105.470 Low Nov 28

The downtrend in Schatz futures remains intact. Key S/T support at 105.955, the Dec 13 low, has been cleared. This strengthens the current bearish theme and signals scope for a continuation lower near-term. Sights are on 105.730 next, the Nov 30 low. On the upside, initial key resistance is at 106.270, the Jan 5 / 12 high. A clear breach of this hurdle would ease bearish pressure and signal a reversal. First resistance is 106.117, the 20-day EMA.

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