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(M3) Trend Condition Remains Bearish

SCHATZ TECHS
  • RES 4: 106.190 High Apr 6 and key short-term resistance
  • RES 3: 105.815 High Apr 12
  • RES 2: 105.523/665 20-day EMA / High Apr 13
  • RES 1: 105.440 High Apr 18
  • PRICE: 105.255 @ 05:33 BST Apr 25
  • SUP 1: 105.165 Low Apr 19 / 24
  • SUP 2: 105.030 Low Mar 15
  • SUP 3: 104.953 76.4% retracement of the Mar 9 - 20 rally
  • SUP 4: 104.695 Low Mar 10

Schatz futures are consolidating but the contract remains in a downtrend. Recent weakness resulted in a breach of support at 105.465, the Mar 31 low. This led to a break of 105.336, 61.8% of the Mar 9 - 20 rally. The focus is on 105.030, the Mar 15 low. On the upside, clearance of 106.190, Apr 6 high, is required to reinstate a bullish theme. Initial firm resistance is seen at 105.523, the 20-day EMA.

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