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(U2) Bull Trend Remains Intact

SCHATZ TECHS
  • RES 4: 110.855 High Apr 4 (cont)
  • RES 3: 110.500 High May 26 (cont)
  • RES 2: 110.412 1.50 proj of the May 16 - 24 - 28 price swing
  • RES 1: 110.380 High Aug 2
  • PRICE: 110.050 @ 05:28 BST Aug 3
  • SUP 1: 109.733 20-day EMA
  • SUP 2: 109.670 Low Jul 28
  • SUP 3: 109.547 50-day EMA
  • SUP 4: 109.350 Low Jul 22

Schatz futures maintain a bullish tone despite pulling back from yesterday’s high print of 110.380. The move higher confirms a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows, signalling scope for a continuation of the bull cycle. The focus is on 110.412 next, a Fibonacci projection. Key support is unchanged at 108.950, the Jul 21 low. Initial firm support is seen at 109.733, the 20-day EMA.

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