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(M4) Correction Remains In Play

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: 105.790/106.010 Intraday high / High Mar 8
  • PRICE: 105.765 @ 05:46 GMT Mar 25
  • 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, however, a S/T corrective cycle is in play and the contract is holding on to its recent gains. A continuation higher would expose key resistance at 106.010, Mar 8 high. A break of this level would be bullish. On the downside, a resumption of weakness would refocus attention on the bear trigger at 105.490, the Feb 29 low. Clearance of this level would resume the downtrend that started in December last year.

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