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SCHATZ TECHS: (Z4) Bullish Outlook

SCHATZ TECHS

 

  • RES 4: 107.474 1.382 retracement proj of the Aug 5 - Sep 3 bear leg
  • RES 3: 107.373 1.236 retracement proj of the Aug 5 - Sep 3 bear leg
  • RES 2: 107.210 High Aug 5 and the bull trigger
  • RES 1: 107.155 High Sep 11    
  • PRICE: 106.980 @ 06:15 BST Sep 13
  • SUP 1: 106.880/765 Low Sep 10 / 6        
  • SUP 2: 106.675 Low Sep 4  
  • SUP 3: 106.520 Low Sep 3 and the bear trigger 
  • SUP 4: 105.975 High Jun 14 (cont) 

A bull cycle in Schatz futures remains intact despite yesterday’s pullback. The move higher this week has resulted in a break of 107.047, 76.4% of the Aug 5 - Sep 3 bear leg. This paves the way for a climb towards key resistance and the bull trigger at 107.210, the Aug 5 high. Clearance of this resistance would confirm a resumption of the medium-term uptrend. Initial support lies at 106.880, the Sep 12 low.

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