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(H4) Trading Closer To Its Recent Highs

SCHATZ TECHS
  • RES 4: 106.621 1.382 proj of the Nov 24 - 30 minor price swing
  • RES 3: 106.527 1.236 proj of the Nov 24 - 30 minor price swing
  • RES 2: 106.375 1.00 proj of the Nov 24 - 30 minor price swing
  • RES 1: 106.290 High Dec 6
  • PRICE: 106.200 @ 05:59 GMT Dec 8
  • SUP 1: 106.005 Low Dec 4
  • SUP 2: 105.780 Low Dec 1
  • SUP 3: 105.777 20-day EMA
  • SUP 4: 105.640 Low Nov 29

Trend conditions in Schatz futures remain bullish and the contract is trading closer to its recent highs. Resistance at 105.660, the Aug 17 high, was breached on Nov 17 , strengthening current bullish conditions. This signals scope for a climb towards 106.375, a Fibonacci projection. Initial firm support lies at 105.780, the Nov 30 low. A short-term pullback would be considered corrective.

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