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(M2) Fresh Cycle Low

SCHATZ TECHS
  • RES 4: 111.355 High Mar 21
  • RES 3: 111.170 High Mar 23
  • RES 2: 111.158 20-day EMA
  • RES 1: 110.915 High Mar 28
  • PRICE: 110.590 @ 05:23 GMT Mar 31
  • SUP 1: 110.465 Low Mar 30
  • SUP 2: 110.410 Low May 8 2014 (cont)
  • SUP 3: 110.400 Round number support
  • SUP 4: 110.360 Low Apr 29 2014 (cont)

Schatz futures remain vulnerable and yesterday traded to a fresh cycle low. The continued move lower strengthens bearish conditions and confirms a resumption of the primary 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 110.410 next. Firm resistance is seen at 111.158, the 20-day EMA.

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