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(M3) Still Looking For Gains

SCHATZ TECHS
  • RES 4: 106.533 76.4% retracement of the Mar 20 - Apr 19 bear leg
  • RES 3: 106.271 61.8% retracement of the Mar 20 - Apr 19 bear leg
  • RES 2: 106.190 High Apr 6
  • RES 1: 105.940/106.120 High May 10 / 4
  • PRICE: 105.880 @ 05:37 BST May 11
  • SUP 1: 105.688/475 20-day EMA / Low May 2
  • SUP 2: 105.350 Low Apr 28
  • SUP 3: 105.165 Low Apr 19 / 24 and bear trigger
  • SUP 4: 105.030 Low Mar 15

Schatz futures bullish conditions remain intact and the latest pullback is considered corrective. The focus is on a climb towards 106.190, the Apr 6 high and 106.271, a Fibonacci retracement point. Price has recently cleared resistance at the 20-day EMA, reinforcing bullish conditions. Key support has been defined at 105.165, the Apr 24 / 19 low. Initial firm support lies at 105.688, the 20-day EMA.

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