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(M2) Bearish Trend Conditions Dominate

SCHATZ TECHS
  • RES 4: 111.430 High Mar 18
  • RES 3: 111.223 20-day EMA
  • RES 2: 111.170 High Mar 23
  • RES 1: 110.915 High Mar 28
  • PRICE: 110.720 @ 05:22 GMT Mar 30
  • SUP 1: 110.495 Low Mar 29
  • SUP 2: 110.475 Low May 12 2014 (cont)
  • SUP 3: 110.410 Low May 8 2014 (cont)
  • SUP 4: 110.360 Low Apr 29 2014 (cont)

Schatz futures remain vulnerable and yesterday resumed their downtrend. The continued move lower strengthens bearish conditions and confirms a resumption of the underlying downtrend plus, it marks an extension of the broader bearish price sequence of lower lows and lower highs. 111.00 has recently been cleared and this paves the way for a move towards the 110.475 next. Firm firm resistance is seen at 111.223, the 20-day EMA.

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