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(M4) Bear Threat Remains Present

SCHATZ TECHS
  • RES 4: 106.315 High Feb 8
  • RES 3: 106.145 High Feb 15
  • RES 2: 106.040 Low Feb 15
  • RES 1: 105.735/106.010 20-day EMA / High Mar 8
  • PRICE: 105.700 @ 05:48 GMT Mar 22
  • SUP 1: 105.515 Low Mar 15
  • SUP 2: 105.490 Low Feb 29 and the bear trigger
  • SUP 3: 105.430 High Feb 20 (cont)
  • SUP 4: 105.310 High Feb 26 (cont)

A downtrend in Schatz futures remains intact and the latest pullback from the Mar 8 high, reinforces this theme. Attention is on key short-term support at 105.490, the Feb 29 low. A break of this level would confirm a resumption of the downtrend that started in December last year. For bulls, a reversal higher would open 106.010, the Mar 8 high, where a break is required to resume a bullish corrective phase. Gains are considered corrective.

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