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(M3) Clears Support

SCHATZ TECHS
  • RES 4: 106.695 High Mar 24
  • RES 3: 106.315 High Mar 27
  • RES 2: 106.190 High Apr 6 and key short-term resistance
  • RES 1: 105.673/920 20-day EMA / High Apr 11
  • PRICE: 105.365 @ 05:34 BST Apr 18
  • SUP 1: 105.315 Low Apr 17
  • SUP 2: 105.030 Low Mar 15
  • SUP 3: 104.953 76.4% retracement of the Mar 9 - 20 rally
  • SUP 4: 104.695 Low Mar 10

Schatz futures remain in a downtrend. The move lower Friday resulted in a break of support at 105.465, the Mar 31 low. The contract also traded lower Monday, extending the current bearish phase. 105.336, 61.8% of the Mar 9 - 20 rally, has been pierced. A clear break would open 105.030, Mar 15 low. On the upside, clearance of 106.190, Apr 6 high, is required to reinstate a bullish theme. Initial firm resistance is seen at 105.673, the 20-day EMA.

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