(M4) Key Support Remains Exposed

• RES 4: 105.790 High Mar 25 and key resistance
• RES 3: 105.680 High Apr 12
• RES 2: 105.469 50-day EMA
• RES 1: 105.276/105.395 20-day EMA / High May 3
• PRICE: 105.145 @ 05:41 BST May 21
• SUP 1: 105.045 Low Apr 30 and the bear trigger
• 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 direction in Schatz futures remains down. The contract has pulled back from last week’s high and - for now - resistance at 105.395, the May 3 high, remains intact. The contract has traded through support at 105.150, the May 14 low. This exposes key support and the bear trigger at 105.045, the Apr 30 low, where a break would confirm a resumption of the primary downtrend. A move above 105.395 is required to alter the picture.