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(U1) Holding Above Support

SCHATZ TECHS
  • RES 4: 112.290 High Feb 11 (cont)
  • RES 3: 112.280 High Feb 12 (cont)
  • RES 2: 112.250 High Mar 1 and 2 (cont)
  • RES 1: 112.185/215 High Jul 12 / High Jul 8 and the bull trigger
  • PRICE: 112.165 @ 05:16 BST Jul 14
  • SUP 1: 112.150 Low Jul 13
  • SUP 2: 112.140 Low Jul 5 and 6
  • SUP 3: 112.120 Low Jun 30
  • SUP 4: 112.110 Congestion lows Apr 20, Jun 22, 23, 25 and 28

The Schatz futures outback is considered corrective. The contract traded higher last week extending the climb from the 112.110 congestion lows in June. Resistance at 112.210, Jun 11 high was probed last week, a clear break would strengthen a bullish case. On the downside, clearance of 112.110 is required to reinstate a bearish theme. Initial firm support is at 112.140, Jul 5 and 6 lows.

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