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(M4) Gains Considered Corrective

SCHATZ TECHS
  • RES 4: 106.145 High Feb 15
  • RES 3: 106.000 Round number resistance
  • RES 2: 105.985 High Feb 20
  • RES 1: 105.915 High Mar 7
  • PRICE: 105.830 @ 06:02 GMT Mar 8
  • SUP 1: 105.625 Low Mar 4
  • SUP 2: 105.490 Low Feb 29 and the bear trigger
  • SUP 3: 105.375 1.236 proj of the Feb 26 - 29 - Mar 5 price swing
  • SUP 4: 105.280 1.50 proj of the Feb 26 - 29 - Mar 5 price swing

The downtrend in Schatz futures remains intact, however, for now a corrective cycle is in play. Resistance at 105.850, the Feb 26 high, has been cleared and this signals scope for a climb towards 105.985, the Feb 20 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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