December 24, 2024 06:09 GMT
SCHATZ TECHS: (H5) Resistance Remains Intact
SCHATZ TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
- RES 4: 107.365 High Dec 12
- RES 3: 107.234 Trendline drawn from the Dec 3 high
- RES 2: 107.170 High Dec 20
- RES 1: 107.140 20-day EMA
- PRICE: 107.025 @ Close Dec 23
- SUP 1: 106.960 Low Dec 19
- SUP 2: 106.908 1.236 proj of the Dec 2 - 6 - 12 price swing
- SUP 3: 106.854 1.382 proj of the Dec 2 - 6 - 12 price swing
- SUP 4: 106.810 1.500 proj of the Dec 2 - 6 - 12 price swing
The current bear cycle in Schatz futures remains intact and recent weakness reinforces this theme. Short-term gains are considered corrective. The 107.00 handle has been breached and this highlights potential for a continuation lower near-term. Sights are on 106.908 next, a Fibonacci projection. Initial firm resistance is seen at 107.140, the 20-day EMA. It has been pierced, a clear break of it would highlight a potential reversal.
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