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(U1) Needle Still Points North

SCHATZ TECHS
  • RES 4: 112.450 High Dec 11, 2020 (cont)
  • RES 3: 112.425 2.618 proj of the Jun 22 - Jul 8 - Jul 13 price swing
  • RES 2: 112.415 High Aug 05 and the bull trigger
  • RES 1: 112.360 High Aug 9
  • PRICE: 112.335 @ 05:20 BST Aug 23
  • SUP 1: 112.295 Low Aug 13 and 16
  • SUP 2: 112.277 50-day EMA
  • SUP 3: 112.245 Low Jul 21
  • SUP 4: 112.210 Low Jul 20

Schatz futures remain above recent lows. The contract has recently probed the 20-day EMA and further weakness would open the 50-day EMA at 112.277. The broader uptrend remains intact though with moving average studies holding a bullish position and a price sequence of higher highs and higher lows intact. A resumption of strength would open the bull trigger at 112.415, Aug 8 high.

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