(H4) Pierces The Bear Trigger

• 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: 105.993 20-day EMA / High Jan 31 and key resistance
• PRICE: 105.830 @ 05:41 GMT Feb 7
• SUP 1: 105.730 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 broader downtrend in Schatz futures remains intact and the strong sell-off from 106.215, the Jan 31 high, reinforces this condition. This week’s move move lower has resulted in a print below 105.760, the Jan 25 low and bear trigger. A clear break of this support would confirm a resumption of the bear cycle that started Dec 29. This would open 105.660, the Nov 16 high. Key resistance has been defined at 106.215.