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(M4) Downtrend Remains Intact

SCHATZ TECHS
  • RES 4: 105.790 High Mar 25 and key resistance
  • RES 3: 105.680 High Apr 12
  • RES 2: 105.525 High Apr 23
  • RES 1: 105.389/425 20-day EMA / High Apr 19
  • PRICE: 105.145 @ 06:11 BST May 2
  • SUP 1: 105.045 Low Apr 30
  • SUP 2: 105.000 Round number support
  • SUP 3: 104.917 1.764 proj of the Aug 8 - Mar 18 - Mar 25 price swing
  • SUP 4: 104.800 2.00 proj of the Mar 8 - 18 - 25 price swing

The trend condition in Schatz futures is unchanged and remains bearish. The recent break of support at 105.490, the Feb 29 low and bear trigger, confirmed a resumption of the downtrend that started late December last year. Tuesday’s move lower reinforces current conditions. Sights are on the 105.00 handle. Key resistance has been defined at 105.790, the Mar 25 high. Initial firm resistance is 105.389, the 20-day EMA.

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