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(M4) Downtrend Remains Intact

SCHATZ TECHS
  • RES 4: 106.145 High Feb 15
  • RES 3: 106.040 Low Feb 15
  • RES 2: 106.010 High Mar 8 and the bull trigger
  • RES 1: 105.790/875 High Mar 25 / 12
  • PRICE: 105.565 @ 06:04 GMT Apr 8
  • 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. A continuation lower would refocus attention on 105.490, the Feb 29 low and bear trigger and clearance of this level would resume the downtrend that started in December last year. Initial firm resistance is at 105.790, the Mar 25 high. A break would highlight an extension of a correction that would expose key resistance at 106.010, the Mar 8 high. A break of this level would be bullish.

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