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(M2) Downtrend Intact

SCHATZ TECHS
  • RES 4: 111.355 High Mar 21
  • RES 3: 111.170 High Mar 23
  • RES 2: 110.855 High Apr 4 and a key resistance
  • RES 1: 110.690 High Apr 8
  • PRICE: 110.480 @ 05:24 BST Apr 14
  • SUP 1: 110.295 Low Apr 12
  • SUP 2: 110.188 0.382 proj of the Mar 7 - 30 - Apr 4 price swing
  • SUP 3: 110.000 Round number support
  • SUP 4: 109.983 0.50 proj of the Mar 7 - 30 - Apr 4 price swing

Schatz futures remain bearish. The Apr 12 fresh cycle low, once again confirms a resumption of the primary downtrend and an extension of the broader bearish price sequence of lower lows and lower highs. The move lower paves the way for weakness towards 110.188 next, a Fibonacci projection. On the upside, key short-term resistance is unchanged at 110.855, the Apr 4 high.

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