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(M3) Bears Remain In The Driver’s Seat

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: 104.840 High Mar 1
  • PRICE: 104.665 @ 05:32 GMT Mar 6
  • SUP 1: 104.525 Low Mar 2 and the bear trigger
  • SUP 2: 104.507 3.764 proj of the Feb 20 - 22 - 24 recent price swing
  • SUP 3: 104.460 4.00 proj of the Jan 18 - Feb 1 - Feb 2 price swing
  • SUP 4: 104.413 4.236 proj of the Feb 20 - 22 - 24 recent price swing

Schatz futures remain in a clear downtrend and last week’s move lower confirmed 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 104.507 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 104.840, the Mar 1 high. Short-term gains would be considered corrective.

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