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SCHATZ TECHS: (U4) Support Remains Intact For Now

SCHATZ TECHS
  • RES 4: 107.120 2.00 proj of the May 24 - Jun 14 - Jul 5 price swing 
  • RES 3: 106.916 1.764 proj of the May 24 - Jun 14 - Jul 5 price swing
  • RES 2: 106.500/106.810 High Aug 6 / 5 and the bull trigger
  • RES 1: 106.360 High Aug 22   
  • PRICE: 106.265 @ 06:15 BST Sep 4
  • SUP 1: 106.125 Low Aug 15       
  • SUP 2: 106.052 50-day EMA  
  • SUP 3: 105.935 Low Jul 30 
  • SUP 4: 105.630/495 Low Jul 22 / 11 

An uptrend in Schatz futures remains intact and recent weakness is considered corrective. The contract has pierced firm support at 106.208, the 20-day EMA. A clear break of it would be seen as a possible early bearish threat. Pivot support at the 50-day EMA, lies at 106.059. Initial resistance is at 106.360, the Aug 22 high. A break would signal a potential resumption of the uptrend.

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