(M3) Support Remains Exposed Despite Recent Gains

• RES 4: 107.110 High Dec 7 2022 (cont)
• RES 3: 106.955 High Mar 20 and key resistance
• RES 2: 106.695 High Mar 24
• RES 1: 106.190/315 High Apr 6 / High Mar 27
• PRICE: 105.820 @ 05:43 BST Apr 11
• SUP 1: 105.785/105.465 20-day EMA / Low Mar 31
• 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 remain above the recent low of 105.465 (Mar 31). A short-term bearish threat is present and recent gains are considered corrective - for now. However, a break of 106.190, the Apr 6 high, would strengthen a bullish case and signal scope for an extension higher. On the downside, initial support lies at 105.785, the 20-day EMA. The bear trigger is 105.465, where a break would open 105.336, a Fibonacci retracement.