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(H4) Short-Term Trend Needle Points South

SCHATZ TECHS
  • RES 4: 106.774 1.618 proj of the Nov 24 - 30 minor price swing
  • RES 3: 106.698 1.50 proj of the Nov 24 - 30 minor price swing
  • RES 2: 106.640 High Dec 29 and the bull trigger
  • RES 1: 106.270/360 High Jan 5 and 12 / Low Jan 3
  • PRICE: 106.200 @ 05:39 GMT Jan 15
  • SUP 1: 105.935 Low Jan 11
  • SUP 2: 105.780 Low Dec 1
  • SUP 3: 105.730 Low Nov 30
  • SUP 4: 105.660 High Nov 17

A bear threat in Schatz futures remains, despite the gap higher Friday. Key short-term support at 105.955, the Dec 13 low, was breached last week. This strengthens the current bearish theme and signals scope for a continuation lower near-term. Sights are on 105.780 next, the Dec 1 low. On the upside, initial resistance is at 106.270, the Jan 5 / 12 high. A clear breach of this hurdle would ease bearish pressure.

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