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(M3) Watching Support

  • RES 4: 107.110 High Dec 7 2022 (cont)
  • RES 3: 107.00 Round number resistance
  • RES 2: 106.955 High Mar 20 and key resistance
  • RES 1: 106.695 High Mar 24
  • PRICE: 106.255 @ 05:35 GMT Mar 27
  • SUP 1: 106.100/105.795 Low Mar 24 / 23
  • SUP 2: 105.636 20-day EMA
  • SUP 3: 105.575 Low Mar 22
  • SUP 4: 105.336 61.8% retracement of the Mar 9 - 20 rally

Schatz futures last week recovered from the Mar 22 low of 105.575. A key support lies at 105.636, the 20-day EMA, where a break is required to strengthen a bearish threat and signal scope for a deeper pullback. For now, the recent move lower is considered corrective. On the upside, key resistance and the bull trigger is at 106.955, the Mar 20 high. Initial firm resistance is seen at 106.695, Friday’s high.

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