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(M1) Still In A Range And Consolidating

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: 112.105 @ 05:17 GMT Mar 16
  • 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. The contract is consolidating but remains in a bear trend. 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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