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(U2) Bullish Price Sequence

SCHATZ TECHS
  • RES 4: 109.540 High May 31
  • RES 3: 109.405 High Jun 1
  • RES 2: 109.344 61.8% retracement of the May 26 - Jun 16 sell-off
  • RES 1: 109.255 Intraday high
  • PRICE: 109.215 @ 05:37 BST Jul 1
  • SUP 1: 108.726 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

A bullish short-term recovery in Schatz futures has resumed. 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 109.344, a Fibonacci retracement. On the downside, key short-term support has been defined at 108.425, the Jun 28 low.

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