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(M1) Still In A Range

SCHATZ TECHS
  • RES 4: 112.250 High Feb 15 (cont)
  • RES 3: 112.223 50-day EMA (cont)
  • RES 2: 112.167 20-day EMA (cont)
  • RES 1: 112.125 High Mar 1 and 2
  • PRICE: 112.100 @ 05:25 GMT Mar 17
  • SUP 1: 112.045 Low Mar 1
  • SUP 2: 112.033 50.0% retracement of the Feb 26 - Mar 2 rally
  • SUP 3: 112.011 61.8% retracement of the Feb 26 - Mar 2 rally
  • SUP 4: 111.984 76.4% retracement of the Feb 26 - Mar 2 rally

The Schatz futures outlook is unchanged with the contract consolidating. The bear trend remains intact though. However, the recent recovery from 111.940, Feb 26 low, means this market remains in a corrective phase. Short-term resistance is at 112.125, Mar 1/2 high. A break would signal scope for stronger gains. On the downside, a pullback would suggest scope for a return to 111.940, Feb 26 low and the bear trigger.

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