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(U2) Bullish Outlook

SCHATZ TECHS
  • RES 4: 110.412 1.382 proj of the May 16 - 24 - 28 price swing
  • RES 3: 110.256 1.382 proj of the May 16 - 24 - 28 price swing
  • RES 2: 110.063 1.236 proj of the May 16 - 24 - 28 price swing
  • RES 1: 110.005 High Jul 6
  • PRICE: 109.515 @ 05:16 BST Jul 8
  • SUP 1: 109.051 20-day EMA
  • SUP 2: 108.760/425 Low Jun 30 / Low Jun 28 and a key support
  • 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 and short-term pullbacks are considered corrective. Resistance at 109.030, Jun 24 high, has recently been cleared 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 110.063, a Fibonacci projection. On the downside, key short-term support has been defined at 108.425, the Jun 28 low.

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