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(M3) Corrective Pullback

SCHATZ TECHS
  • RES 4: 107.110 High Dec 7 2022 (cont)
  • RES 3: 107.00 Round number resistance
  • RES 2: 106.955 High Mar 20 and key resistance
  • RES 1: 106.315/695 High Mar 27 / 24
  • PRICE: 106.005 @ 05:28 GMT Mar 28
  • SUP 1: 105.795 Low Mar 23
  • SUP 2: 105.682 20-day EMA
  • SUP 3: 105.575 Low Mar 22
  • SUP 4: 105.336 61.8% retracement of the Mar 9 - 20 rally

Schatz futures last week recovered from the Mar 22 low of 105.575. A key support lies at 105.682, the 20-day EMA, where a break is required to strengthen a bearish threat and signal scope for a deeper pullback. For now, the recent move lower appears to be a correction. On the upside, key resistance and the bull trigger is at 106.955, the Mar 20 high. Initial firm resistance is seen at 106.695, Friday’s high.

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