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(U1) Short-Term Positive Theme Intact

SCHATZ TECHS
  • RES 4: 112.210 High Jun 11 and the bull trigger
  • RES 3: 112.205 High Jun 14
  • RES 2: 112.185 High Jun 15 and 16
  • RES 1: 112.175 High Jun 17, 18 and high Jul 2
  • PRICE: 112.145 @ 05:20 BST Jul 6
  • SUP 1: 112.135 Low Jul 1
  • SUP 2: 112.110 Congestion lows Apr 20, Jun 22, 23, 25 and 28
  • SUP 3: 112.086 138.2% retracement of the May17 - Jun 11 rally
  • SUP 4: 112.075 150.0% retracement of the May17 - Jun 11 rally

Schatz futures traded higher last week. The recent short-term recovery from the 112.110 congestion lows suggests scope for a continuation higher. Attention has turned to the key resistance at 112.210, Jun 11 high where a break would strengthen a bullish case. On the downside, clearance of 112.110 would instead reinstate a bearish theme. Initial support lies at 112.135, Jul 1 low.

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