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(U1) Bullish Price Sequence Intact

  • RES 4: 112.320 1.618 proj of the Jun 22 - Jul 8 - Jul 13 price swing
  • RES 3: 112.307 1.50 proj of the Jun 22 - Jul 8 - Jul 13 price swing
  • RES 2: 112.290 High Feb 11 (cont)
  • RES 1: 112.285 High Jul 20
  • PRICE: 112.250 @ 04:43 BST Jul 22
  • SUP 1: 112.210 Low Jul 20
  • SUP 2: 112.180/150 Low Jul 16 / Low Jul 13
  • SUP 3: 112.140 Low Jul 5 and 6
  • SUP 4: 112.120 Low Jun 30

The Schatz futures outlook is bullish following Tuesday's strong rally. Resistance at 112.210, Jun 11 high has been cleared. This strengthens a bullish case and opens 112.295 next, a Fibonacci projection. Note too that the rally has also established a bullish price sequence of higher highs and higher lows, the definition of an uptrend. On the downside, initial support is seen at 112.210, Tuesday's low.

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