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(M4) Key Support Remains Exposed

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: 105.805/106.010 20-day EMA / High Mar 8
  • PRICE: 105.580 @ 05:44 GMT Mar 18
  • SUP 1: 105.535 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)

The downtrend in Schatz futures remains intact and last week’s pullback reinforces this theme. The move lower refocuses attention on key short-term support and the bear trigger at 105.490, the Feb 29 low. A break of this level would confirm a resumption of the downtrend that started in December last year. A reversal higher would open 106.010, the Mar 8 high where a break is required to resume a bullish corrective phase.

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