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(M3) Bull Cycle Still In Play

SCHATZ TECHS
  • RES 4: 106.533 76.4% retracement of the Mar 20 - Apr 19 bear leg
  • RES 3: 106.271 61.8% retracement of the Mar 20 - Apr 19 bear leg
  • RES 2: 106.190 High Apr 6
  • RES 1: 106.120 High May 4
  • PRICE: 105.895 @ 06:15 BST May 8
  • SUP 1: 105.644/350 20-day EMA / Low Apr 28
  • SUP 2: 105.475/350 Low May 2 / Low Apr 28
  • SUP 3: 105.165 Low Apr 19 / 24 and bear trigger
  • SUP 4: 105.030 Low Mar 15

Schatz futures bullish conditions remain intact following last week’s gains and the contract is trading closer to its recent highs. The focus is on 106.190, the Apr 6 high and 106.271, a Fibonacci retracement point. Price has recently cleared resistance at the 20-day EMA, reinforcing bullish conditions. Key support has been defined at 105.165, the Apr 24 / 19 low. Initial firm support lies at 105.644, the 20-day EMA.

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