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(M4) Trend Structure Remains Bearish

SCHATZ TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
  • RES 4: 105.790 High Mar 25 and key resistance
  • RES 3: 105.680 High Apr 12
  • RES 2 105.395 High May 31
  • RES 1: 105.144/360 20- and 50-day EMA values
  • PRICE: 104.935 @ 05:47 BST May 30
  • SUP 1: 104.880 Low May 24
  • SUP 2: 104.800 2.00 proj of the Mar 8 - 18 - 25 price swing
  • SUP 3: 104.745 Low Sep 26 2023 (cont) and a key support
  • SUP 4: 104.683 2.236 proj of the Mar 8 - 18 - 25 price swing

The trend direction in Schatz futures is unchanged and remains down. Recent bearish price action resulted in a break of key support and a bear trigger at 105.045, the Apr 30 low. The move down paves the way for an extension towards 104.800, a Fibonacci projection. Moving average studies remain in a bear-mode set-up highlighting a clear downtrend. Initial firm resistance is seen at 105.144, the 20-day EMA.

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  • RES 4: 105.790 High Mar 25 and key resistance
  • RES 3: 105.680 High Apr 12
  • RES 2 105.395 High May 31
  • RES 1: 105.144/360 20- and 50-day EMA values
  • PRICE: 104.935 @ 05:47 BST May 30
  • SUP 1: 104.880 Low May 24
  • SUP 2: 104.800 2.00 proj of the Mar 8 - 18 - 25 price swing
  • SUP 3: 104.745 Low Sep 26 2023 (cont) and a key support
  • SUP 4: 104.683 2.236 proj of the Mar 8 - 18 - 25 price swing

The trend direction in Schatz futures is unchanged and remains down. Recent bearish price action resulted in a break of key support and a bear trigger at 105.045, the Apr 30 low. The move down paves the way for an extension towards 104.800, a Fibonacci projection. Moving average studies remain in a bear-mode set-up highlighting a clear downtrend. Initial firm resistance is seen at 105.144, the 20-day EMA.