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(U3) Heads South

SCHATZ TECHS
  • RES 4: 105.550 High Jun 12 and key near-term resistance
  • RES 3: 105.495 High Jun 13
  • RES 2: 105.327 20-day EMA
  • RES 1: 105.120/185 High Jun 19 / 15
  • PRICE: 105.005 @ 05:16 BST Jun 22
  • SUP 1: 104.900 Low Jun 20
  • SUP 2: 104.883 1.236 projection of the Jun 1 - 8 - 12 price swing
  • SUP 3: 104.740 1.50 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 104.695 Low Mar 10 (cont)

Schatz futures remain in a bearish mode. The recent break of 105.330, the May 26 low and bear trigger, confirmed a resumption of the downtrend and maintains a bearish price sequence of lower lows and lower highs. Sights are on 104.883 next, a Fibonacci projection. Note that moving average studies are in a bear mode condition, highlighting a downtrend. Firm resistance is at 105.550, the Jun 12 high.

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