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(M3) Support Remains Intact - For Now

SCHATZ TECHS
  • RES 4: 106.020 High May 11
  • RES 3: 105.910 High May 16
  • RES 2: 105.775 High May 17
  • RES 1: 105.675 High Jun 1
  • PRICE: 105.390 @ 05:26 BST Jun 5
  • SUP 1: 105.300 Low May 30
  • SUP 2: 105.160 Low May 26 and the bear trigger
  • SUP 3: 105.030 Low Mar 15
  • SUP 4: 104.953 76.4% retracement of the Mar 9 - 20 rally

Short-term conditions in Schatz futures appear to be a correction - for now. Key resistance is at 106.675, the Jun 1 high where a break would highlight a continuation of the recovery from 105.160, the May 26 low. This would signal scope for a climb towards 105.775, the May 17 high. Initial support is seen at 105.300, the May 30 low where a break would instead expose 105.160. Clearance of this latter level resumes bearish activity.

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