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(M0) Focus Is On Key Supports *RES.....>

SCHATZ TECHS
SCHATZ TECHS: (M0) Focus Is On Key Supports
*RES 4: 112.270 High May 14, 15 and 18
*RES 3: 112.181 50-day EMA
*RES 2: 112.140 High May 21 and 22 and key near-term resistance
*RES 1: 112.105 High May 26
*PRICE: 112.030 @ 04:54 BST May 29
*SUP 1: 111.980 Low May 27
*SUP 2: 111.965 Low May 9 low and a key support
*SUP 3: 111.925 May 25 low and major support
*SUP 4: 111.797 0.618 projection of Mar 9 - 25 decline from May 4 high
Schatz futures sold off this week to confirm a resumption of the downtrend that
has been in place since peaking at 112.400 on Apr 5. The move lower maintains
the bearish price sequence of lower lows and lower highs reinforcing current
bearish conditions. This has opened 111.965, Apr 9 low ahead of the major
support 111.925, Mar 25 low. A break of the latter would strengthen a bearish
argument. On the upside, key short-term resistance is at 112.140.

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