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(U3) Key Directional Parameters Defined

SCHATZ TECHS
  • RES 4: 105.325 High Jun 14
  • RES 3: 105.295 High Aug 8 and a bull trigger
  • RES 2: 105.255 High Aug 9
  • RES 1: 105.230 High Aug 24
  • PRICE: 105.120 @ 07:10 BST Sep 1
  • SUP 1: 104.825/760 Low Aug 30 / 15 and the bear trigger
  • SUP 2: 104.741 76.4% retracement of the Jul 6 - Aug 8 bull leg
  • SUP 3: 104.620/104.570 Low Jul 11 / 6 and the bear trigger
  • SUP 4: 104.470 2.00 projection of the Jun 1 - 8 - 12 price swing

Schatz futures remain below their recent highs. Recent activity has highlighted key directional parameters at 104.760, the Aug 15 low and 105.230, the Aug 24 high. A breach of support would reinstate a bearish theme and expose 104.741 initially, a Fibonacci retracement. For bulls, clearance of 105.230 would leave the key resistance at 105.295, the Aug 8 high, exposed. A break of this level would strengthen bullish conditions.

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