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(U1) Holding Above Support

  • 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: 112.215 High Jul 8 and the bull trigger
  • PRICE: 112.185 @ 05:25 BST Jul 16
  • 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 outlook remains bullish. Resistance at 112.210, Jun 11 high was probed on Jul 8. A clear break of this hurdle would strengthen a bullish case and open 112.250, the Mar 1 and 2 high (cont). A move higher would also establish a bullish price sequence of higher highs and higher lows. On the downside, clearance of 112.110 is required to reinstate a bearish theme. Initial firm support is at 112.150.

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