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(U2) Bullish Outlook

SCHATZ TECHS
  • RES 4: 110.063 1.236 proj of the May 16 - 24 - 28 price swing
  • RES 3: 110.00 Round number resistance
  • RES 2: 109.850 High May 26 and a key resistance
  • RES 1: 109.715 HIgh Jul 1
  • PRICE: 109.615 @ 05:05 BST Jul 6
  • SUP 1: 108.924 20-day EMA
  • SUP 2: 108.425 Low Jun 28
  • SUP 3: 108.025 Low Jun 21
  • SUP 4: 107.705 Low Jun 16 and the bear trigger

Bullish short-term conditions in Schatz futures remain intact. The contract has cleared resistance at 109.030, the Jun 24 high. This marks an extension of a corrective cycle and price has established a bullish sequence of higher highs and higher lows. Scope is seen for a climb towards 109.850, the May 26 high. On the downside, key short-term support has been defined at 108.425, the Jun 28 low.

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