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(M4) Clears Support

SCHATZ TECHS
  • RES 4: 106.040 Low Feb 15
  • RES 3: 106.010 High Mar 8 and the bull trigger
  • RES 2: 105.790/875 High Mar 25 / 12
  • RES 1: 105.650 20-day EMA
  • PRICE: 105.440 @ 05:49 BST Apr 11
  • SUP 1: 105.385 Low Apr 10
  • SUP 2: 105.310 High Feb 26 (cont)
  • SUP 3: 105.295 1.236 proj of the Aug 8 - Mar 18 - Mar 25 price swing
  • SUP 4: 105.106 1.382 proj of the Aug 8 - Mar 18 - Mar 25 price swing

A downtrend in Schatz futures remains intact and yesterday’s move lower reinforces current conditions. The break of support at 105.490, the Feb 29 / Apr 9 low and bear trigger, confirms a resumption of the downtrend that started late December last year. The focus is on 105.295, a Fibonacci projection. Initial firm resistance has been defined at 105.650, the 20-day EMA.

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