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(M3) Corrective Pullback

SCHATZ TECHS
  • RES 4: 107.170 High Dec 2 2022 (cont)
  • RES 3: 107.000 Round number resistance
  • RES 2: 106.955 High Mar 20
  • RES 1: 106.170/106.530 50.0% of Tuesday’s range / High Mar 21
  • PRICE: 105.855 @ 05:29 GMT Mar 22
  • SUP 1: 105.760 Low Mar 17
  • SUP 2: 105.575 Low Mar 16
  • SUP 3: 105.486 20-day EMA
  • SUP 4: 105.336 61.8% retracement of the Mar 9 - 20 rally

Schatz futures traded lower Tuesday as the pullback from Monday’s high of 106.955 extends. Attention is on support at 105.760, the Mar 17 low and 105.486, the 20-day EMA. The average marks a key short-term support where a break is required to signal scope for a deeper pullback. For now, the recent move lower is considered corrective. On the upside, key resistance and the bull trigger is at 106.955, the Mar 20 high.

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