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(M3) Trend Outlook 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: 105.579/665 20-day EMA / High Apr 13
  • RES 1: 105.440 High Apr 18
  • PRICE: 105.360 @ 04:54 BST Apr 21
  • SUP 1: 105.165 Low Apr 19
  • 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 remain in a downtrend and short-term gains are considered corrective. Recent weakness has resulted in a break of support at 105.465, the Mar 31 low. 105.336, 61.8% of the Mar 9 - 20 rally, has been breached. The break opens 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 105.579, the 20-day EMA.

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