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(M4) Bullish Short-Term Outlook

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: 106.010 High Mar 8
  • PRICE: 105.945 @ 05:49 GMT Mar 11
  • SUP 1: 105.705 Low Mar 7
  • SUP 2: 105.640 Low Mar 5
  • SUP 3: 105.575 Low Mar 1
  • SUP 4: 105.490 Low Feb 29 and the bear trigger

The downtrend in Schatz futures remains intact, however, for now a corrective cycle remains in play. Resistance at 105.850, the Feb 26 high, has been cleared and this signals scope for a climb towards 106.145, the Feb 15 high. For bears, recent fresh cycle lows reinforce bearish conditions and maintain the price sequence of lower lows and lower highs. The bear trigger has been defined at 105.490, the Feb 29 low.

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