(M2) Trading Near Its Recent Lows

• RES 4: 112.210 High Mar 7 and short-term key resistance
• RES 3: 112.015 High 8
• RES 2: 111.740 High Mar 10
• RES 1: 111.517 20-day EMA
• PRICE: 111.300 @ 05:21 GMT Mar 18
• SUP 1: 111.205 Low Mar 16
• SUP 2: 111.145 Low Feb 4 and the bear trigger
• SUP 3: 111.100 Round number support
• SUP 4: 111.065 Low Jun 5 2015 (cont)

Schatz futures traded to a fresh near-term cycle low Wednesday of 111.205. It is still possible that the recent move lower is a correction although the break of support at 111.655, Mar 3 low, suggests potential for a deeper pullback. Price action has also probed support at 111.240, the Feb 23 low and a key short-term level. A clear break would suggest potential for an extension lower. Initial firm resistance is seen at 111.740.