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(H4) Trading At Its Recent Lows

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: 106.360 Low Jan 3
  • PRICE: 106.095 @ 05:50 GMT Jan 10
  • SUP 1: 106.055 Low Jan 05
  • SUP 2: 105.955 Low Dec 13 and key short-term support
  • SUP 3: 105.780 Low Dec 1
  • SUP 4: 105.730 Low Nov 30

Schatz futures continue to trade closer to their recent lows. The contract has breached support around the 20-day EMA, signalling scope for a continuation of the corrective cycle. Further weakness would open the key short-term support of 105.955, the Dec 13 low. Clearance of this level would strengthen a bearish threat. Key resistance and the bull trigger has been defined at 106.640, the Dec 29 high.

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