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(U1) Northbound

SCHATZ TECHS
  • RES 4: 112.365 High Jan 27 (cont)
  • RES 3: 112.360 2.00 proj of the Jun 22 - Jul 8 - Jul 13 price swing
  • RES 2: 112.335 1.764 proj of the Jun 22 - Jul 8 - Jul 13 price swing
  • RES 1: 112.325 High Jul 26
  • PRICE: 112.295 @ 05:26 BST Jul 27
  • SUP 1: 112.245 Low Jul 21
  • SUP 2: 112.210 Low Jul 20
  • SUP 3: 112.180/150 Low Jul 16 / Low Jul 13
  • SUP 4: 112.140 Low Jul 5 and 6

The Schatz futures outlook remains bullish and the contract continues to climb. The break on Jul 20 of resistance at 112.210, Jun 11 high strengthens a bullish case with the focus on 112.335 next, a Fibonacci projection. Note too that recent gains have 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 112.245, Jul 21 low.

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