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(M3) Trend Needle Points North

SCHATZ TECHS
  • RES 4: 107.000 Round number resistance
  • RES 3: 106.800 Low Dec 5 2022 (cont)
  • RES 2: 106.680 High Dec 13 2022 (cont)
  • RES 1: 106.495 High Mar 17
  • PRICE: 106.260 @ 05:55 GMT Mar 20
  • SUP 1: 105.760 Low Mar 17
  • SUP 2: 105.575 Low Mar 16
  • SUP 3: 105.335 20-day EMA
  • SUP 4: 105.166 50.0% retracement of the Mar 8 - 17 rally

Schatz futures traded higher Friday. The outlook - for now - remains bullish in a volatile environment. A continuation higher would open 106.680, the Dec 13 2022 high on the continuation chart. Further out, scope is seen for a climb towards the 107.00 handle. On the downside, key short-term support is seen at the 20-day EMA. The average intersects at 105.335. A break of this average would highlight a bearish development.

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