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(M3) Corrective Pullback

SCHATZ TECHS
  • RES 4: 106.000 Round number resistance
  • RES 3: 105.826 61.8% retracement of Tuesday’s sell-off
  • RES 2: 105.693 50.0% retracement of Tuesday’s sell-off
  • RES 1: 105.393 23.6% retracement of Tuesday’s sell-off
  • PRICE: 105.260 @ 05:37GMT Mar 15
  • SUP 1: 105.077 61.8% retracement of the Mar 8 - 14 rally
  • SUP 2: 104.960 Low Mar 13
  • SUP 3: 104.797 76.4% retracement of the Mar 8 - 15 rally
  • SUP 4: 104.695 Low Mar 10

Schatz futures traded sharply higher Monday, extending Friday’s rally and confirming a reversal of the recent bear leg. Yesterday’s pullback is considered corrective - for now - however a continuation lower would threaten the recent bull phase and signal scope for a deeper retracement. Support to watch is 105.077, a Fibonacci retracement. Key resistance and the bull trigger is at Tuesday’s 106.260 high.

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