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(M3) Pullback Extends

  • RES 4: 107.110 High Dec 7 2022 (cont)
  • RES 3: 106.955 High Mar 20 and key resistance
  • RES 2: 106.315/695 High Mar 27 / 24
  • RES 1: 106.095 High Mar 30
  • PRICE: 105.645 @ 05:33 BST Mar 31
  • SUP 1: 105.510 Low Mar 30
  • SUP 2: 105.336 61.8% retracement of the Mar 9 - 20 rally
  • SUP 3: 105.030 Low Mar 15
  • SUP 4: 104.953 76.4% retracement of the Mar 9 - 20 rally

Schatz futures traded lower Thursday, breaching a key support at 105.715, the 20-day EMA. Price has also traded through support at 105.575, the Mar 22, where a clear break would strengthen a bearish threat and signal scope for a deeper pullback. This would open 105.336, a Fibonacci retracement. On the upside, key resistance and the bull trigger is at 106.955, the Mar 20 high. Initial resistance is seen at 106.095, Thursday’s high.

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