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SCHATZ TECHS: (Z4) Maintains A Softer Tone

SCHATZ TECHS
Bullet
  • RES 4: 107.450 1.00 proj of the Sep 3 - 11 - 18 price swing
  • RES 3: 107.225/335 High Oct 3 / 1 and key resistance  
  • RES 2: 107.110 High Oct 7   
  • RES 1: 106.910 20-day EMA    
  • PRICE: 106.770 @ 06:00 BST Oct 14  
  • SUP 1: 106.580 Low Oct 10      
  • SUP 2: 106.520 Low Sep 3 and a key support 
  • SUP 3: 106.328 123.6% retracement proj of Sep 3 - Oct 1 bull cycle 
  • SUP 4: 106.209 138.2% retracement proj of Sep 3 - Oct 1 bull cycle  

A short-term bearish threat remains intact in Schatz futures following the extended reversal from the Oct 1 high. The contract has traded through the 20-day EMA and breached not only 106.815, the Sep 18 low, but also 106.712, the 76.4% retracement of the Sep 3 - Oct 1 bull cycle. On the upside, initial resistance to watch is 106.910, the 20-day EMA. A clear break of it would signal a possible reversal. 

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  • RES 4: 107.450 1.00 proj of the Sep 3 - 11 - 18 price swing
  • RES 3: 107.225/335 High Oct 3 / 1 and key resistance  
  • RES 2: 107.110 High Oct 7   
  • RES 1: 106.910 20-day EMA    
  • PRICE: 106.770 @ 06:00 BST Oct 14  
  • SUP 1: 106.580 Low Oct 10      
  • SUP 2: 106.520 Low Sep 3 and a key support 
  • SUP 3: 106.328 123.6% retracement proj of Sep 3 - Oct 1 bull cycle 
  • SUP 4: 106.209 138.2% retracement proj of Sep 3 - Oct 1 bull cycle  

A short-term bearish threat remains intact in Schatz futures following the extended reversal from the Oct 1 high. The contract has traded through the 20-day EMA and breached not only 106.815, the Sep 18 low, but also 106.712, the 76.4% retracement of the Sep 3 - Oct 1 bull cycle. On the upside, initial resistance to watch is 106.910, the 20-day EMA. A clear break of it would signal a possible reversal.