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(U1) Trading At Recent Lows

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: 112.160 @ 05:16 BST Jun 17
  • SUP 1: 112.150 Low Jun 16 and Between Jun 4 - 8
  • SUP 2: 112.145 Low Jun 3
  • SUP 3: 112.135 Low May 27, 28 and 31 and key near-term support
  • SUP 4: 112.120 Low May 17

Schatz futures are trading at recent lows and remain below the Jun 11 high of 112.210. Attention turns to support at 112.135, the May 27, 28 and 31 lows. A break of this level would strengthen a bearish case and expose the May low of 112.120. On the upside, key resistance has been defined at 112.210, Jun 11 high where a break is required to confirm a bullish price structure and resume the recent uptrend.

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