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(U2)‌‌ Trendline Support Still Intact

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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: 110.040 @ 05:29 BST Aug 5
  • SUP 1: 109.778 20-day EMA
  • SUP 2: 109.670 Low Jul 28
  • SUP 3: 109.580 50-day EMA
  • SUP 4: 109.350 Low Jul 22

Schatz futures remain below recent highs. The move lower is likely a correction and trend conditions remain bullish. Fresh highs Tuesday, confirmed a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows, signalling scope for a continuation higher. 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.

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  • 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: 110.040 @ 05:29 BST Aug 5
  • SUP 1: 109.778 20-day EMA
  • SUP 2: 109.670 Low Jul 28
  • SUP 3: 109.580 50-day EMA
  • SUP 4: 109.350 Low Jul 22

Schatz futures remain below recent highs. The move lower is likely a correction and trend conditions remain bullish. Fresh highs Tuesday, confirmed a resumption of the current uptrend and maintains the bullish price sequence of higher highs and higher lows, signalling scope for a continuation higher. 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.