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(M3) Key Support Remains Intact

SCHATZ TECHS
  • RES 4: 106.955 High Mar 20 and key resistance
  • RES 3: 106.629 76.4% retracement of the Mar 20 - 22 sell-off
  • RES 2: 106.530 High Mar 21
  • RES 1: 106.428 61.8% retracement of the Mar 20 - 22 sell-off
  • PRICE: 106.255 @ 05:40 GMT Mar 24
  • SUP 1: 105.795 Low Mar 23
  • SUP 2: 105.575 Low Mar 22
  • SUP 3: 105.560 20-day EMA
  • SUP 4: 105.336 61.8% retracement of the Mar 9 - 20 rally

Schatz futures have recovered from Wednesday’s low of 105.575. A key support lies at 105.560, the 20-day EMA, 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. Initial firm resistance is seen at 106.428, a Fibonacci retracement.

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