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(U0) Gains Still Considered Corrective

SCHATZ TECHS
  • RES 4: 112.117 61.8% retracement of the Jul 31 - Aug 14 sell-off
  • RES 3: 112.105 High Aug 12
  • RES 2: 112.092 50.0% retracement of the Jul 31 - Aug 14 sell-off
  • RES 1: 112.090 High Aug 20
  • PRICE: 112.060 @ 05:18 BST Aug 21
  • SUP 1: 112.025 Low Aug 19
  • SUP 2: 111.990 Low Aug 14 and the bear trigger
  • SUP 3: 111.977 76.4% retracement of the Jun - Jul rally
  • SUP 4: 111.975 Low Jun 11

Schatz futures continued to correct higher yesterday extending the retracement of the sell-off between Jul 31 - Aug 14. The move higher has been viewed as a correction with the next resistance to watch at 112.092, a retracement level. Clearance of this level would signal scope for a stronger recovery and open 112.117, also a retracement level. On the downside, weakness would once again open 111.990, Aug 14 key support.

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