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(U1) Short-Term Uptrend Remains Intact

SCHATZ TECHS
  • RES 4: 112.235 2.00 proj of the May 24 - 27 - 31 price swing
  • RES 3: 112.213 1.764 proj of the May 24 - 27 - 31 price swing
  • RES 2: 112.216 1.618 proj of the May 24 - 27 - 31 price swing
  • RES 1: 112.210 High Jun 11
  • PRICE: 112.195 @ 5:22 BST Jun 14
  • SUP 1: 112.160 Low Jun 10
  • SUP 2: 112.150 Low Jun 4, 7, 8
  • SUP 3: 112.145 Low Jun 3
  • SUP 4: 112.135 Low May 27, 28 and 31 and key near-term support

Schatz futures remain firm. Last week the contract cleared resistance at 112.180, May 27 high. The break higher highlights a stronger short-term bullish tone signalling scope for a climb towards 112.216 and 112.223 next, Fibonacci projections. Key trend support has been defined at 112.135, late May lows where a break is required to reinstate a bearish theme. Initial support is at 112.160, Jun 10 low.

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