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(U2) Remains Below The Early August Highs

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: 110.100/380 High Aug 3 / Aug 2 and the bull trigger
  • PRICE: 109.705 @ 05:16 BST Aug 15
  • SUP 1: 109.670 Low Jul 28
  • SUP 2: 109.624 50-day EMA
  • SUP 3: 109.350 Low Jul 22
  • SUP 4: 108.950 Low Jul 21 and a key support

Schatz futures remain below recent highs. The retracement from the Aug 2 high is likely a correction and short-term trend conditions still appear bullish. A fresh high on Aug 2, confirmed a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. The focus is on 110.412 next, a Fibonacci projection. Key support is unchanged at 108.950, Jul 21 low. Initial firm support is at 109.670, the Jul 28 low.

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