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(M2) Heading North

SCHATZ TECHS
  • RES 4: 112.798 1.236 proj of the Feb 23 - Mar 1 - 3 price swing
  • RES 3: 112.580 1.000 proj of the Feb 23 - Mar 1 - 3 price swing
  • RES 2: 112.362 0.764 proj of the Feb 23 - Mar 1 - 3 price swing
  • RES 1: 112.227 0.618 proj of the Feb 23 - Mar 1 - 3 price swing
  • PRICE: 112.175 @ 05:49 GMT Mar 7
  • SUP 1: 111.860 Low Mar 4
  • SUP 2: 111.655 Low Mar 3 and a key near-term support
  • SUP 3: 111.435 Low Feb 28
  • SUP 4: 111.240 Low Feb 23

Schatz futures remain bullish. The contract has traded to a fresh trend high, extending the recovery from 111.655, the Mar 3 low. The move higher confirms a resumption of the underlying uptrend and maintains the bullish price sequence of higher highs and higher lows. Attention is on 112.227 and 112.362, Fibonacci projection levels. On the downside, 111.655 is seen as a firm short-term support.

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