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SCHATZ TECHS: (H5) Bull Flag Formation

SCHATZ TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 107.233 76.4% retracement of the Dec 2 - Jan 15 bear leg
  • RES 3: 107.170 High Dec 20    
  • RES 2: 107.081 61.8% retracement of the Dec 2 - Jan 15 bear leg
  • RES 1: 107.045 High Jan 3          
  • PRICE: 106.925 @ 08:07 GMT Feb 11   
  • SUP 1: 106.805 Low Jan 3               
  • SUP 2: 106.772 20-day EMA
  • SUP 3: 106.600/515 Low Jan 31 / 30 
  • SUP 4: 106.435 Low Jan 15 and key support  

A bull cycle that began Jan 15 in Schatz futures remains in play. The contract has recently traded through a number of important resistance points and the latest impulsive gains highlight a stronger reversal. Furthermore, the recent pause appears to be a flag formation - a bullish continuation signal. The focus is on 107.081, a Fibonacci retracement point. Initial firm support to watch lies at 106.775, the 20-day EMA. First support is 106.805, the Feb 3 low.                                       

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  • RES 4: 107.233 76.4% retracement of the Dec 2 - Jan 15 bear leg
  • RES 3: 107.170 High Dec 20    
  • RES 2: 107.081 61.8% retracement of the Dec 2 - Jan 15 bear leg
  • RES 1: 107.045 High Jan 3          
  • PRICE: 106.925 @ 08:07 GMT Feb 11   
  • SUP 1: 106.805 Low Jan 3               
  • SUP 2: 106.772 20-day EMA
  • SUP 3: 106.600/515 Low Jan 31 / 30 
  • SUP 4: 106.435 Low Jan 15 and key support  

A bull cycle that began Jan 15 in Schatz futures remains in play. The contract has recently traded through a number of important resistance points and the latest impulsive gains highlight a stronger reversal. Furthermore, the recent pause appears to be a flag formation - a bullish continuation signal. The focus is on 107.081, a Fibonacci retracement point. Initial firm support to watch lies at 106.775, the 20-day EMA. First support is 106.805, the Feb 3 low.