April 19, 2024 05:35 GMT
(M4) Trend Needle Points South
SCHATZ TECHS
- RES 4: 106.040 Low Feb 15
- RES 3: 106.010 High Mar 8
- RES 2: 105.790/875 High Mar 25 and key resistance / High Mar 12
- RES 1: 105.680 High Apr 12
- PRICE: 105.425 @ 06:19 BST Apr 19
- SUP 1: 105.340 Low Apr 18
- SUP 2: 105.310 High Feb 26 (cont)
- SUP 3: 105.295 1.236 proj of the Aug 8 - Mar 18 - Mar 25 price swing
- SUP 4: 105.106 1.382 proj of the Aug 8 - Mar 18 - Mar 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, confirms a resumption of the downtrend that started late December last year. The focus is on 105.295, a Fibonacci projection. Key short-term resistance has been defined at 105.790, the Mar 25 high. Short-term gains are - for now - considered corrective.
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