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(M3) Bear Cycle Extends

SCHATZ TECHS
  • RES 4: 105.260 High Feb 24 and key resistance
  • RES 3: 105.060 High Feb 27
  • RES 2: 104.935 High Feb 28
  • RES 1: 104.735/840 High Mar 2 / 1
  • PRICE: 104.455 @ 05:18 GMT Mar 7
  • SUP 1: 104.400 Low Mar 6 and the bear trigger
  • SUP 2: 104.380 4.382 proj of the Feb 20 - 22 - 24 recent price swing
  • SUP 3: 104.360 4.50 proj of the Jan 18 - Feb 1 - Feb 2 price swing
  • SUP 4: 104.336 4.618 proj of the Feb 20 - 22 - 24 recent price swing

Schatz futures remain in a clear downtrend and Monday’s move lower confirmed once again, a resumption of the bearish price sequence of lower lows and lower highs, reinforcing the current bearish theme. The focus is on a move towards 104.384 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 104.735, the Mar 2 high. Short-term gains would be considered corrective.

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