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(H4) Trading Closer To Its Recent Lows

SCHATZ TECHS
  • RES 4: 106.215 High Jan 31 and a key resistance
  • RES 3: 106.070 High Feb 2
  • RES 2: 105.876 20-day EMA
  • RES 1: 105.760 Low Jan 25
  • PRICE: 105.580 @ 05:09 GMT Feb 13
  • SUP 1: 105.530 Low Feb 9
  • SUP 2: 105.470 Low Nov 28
  • SUP 3: 105.260 Low Nov 24 and a key support
  • SUP 4: 105.195 2.00 projection of the Jan 12 - 25 - 31 price swing

A downtrend in Schatz futures remains intact and the contract is trading closer to its recent lows. Support at 105.760, the Jan 25 low and a bear trigger, has been breached. The clear break of the support confirms a resumption of the bear cycle that started Dec 29 and maintains the price sequence of lower lows and lower highs. The focus is on 105.470, the Nov 28 low. Key resistance has been defined at 106.215, the Jan 31 high.

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