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(M3) Maintains A Firmer Tone

SCHATZ TECHS
  • RES 4: 106.000 Round number resistance
  • RES 3: 105.345 High High Feb 16
  • RES 2: 105.260 High Feb 24 and key resistance
  • RES 1: 105.110 Intraday high
  • PRICE: 105.080 @ 05:24 GMT Mar 13
  • SUP 1: 104.695 Low Mar 10
  • SUP 2: 104.335 Low Mar 9 and the bear trigger
  • SUP 3: 104.307 4.764 proj of the Jan 18 - Feb 1 - Feb 2 price swing
  • SUP 4: 104.000 Round number support

Schatz futures traded sharply higher Friday, confirming a short-term reversal from last week’s low of 104.335 on Mar 9. The rally is allowing a recent oversold trend condition to unwind. The 105.00 handle has been cleared and sights are on key short-term resistance at 105.260, the Feb 25 high. A break of this level would strengthen the current bullish theme. On the downside, initial firm support is at Friday’s intraday low of 104.695.

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