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(U3) Resumes Its Downtrend

SCHATZ TECHS
  • RES 4: 105.975 High May 17
  • RES 3: 105.875 High Jun 1 and key short-term resistance
  • RES 2: 105.655/815 High Jun 6 / 4
  • RES 1: 105.550 High Jun 12 and key near-term resistance
  • PRICE: 105.230 @ 05:51 BST Jun 14
  • SUP 1: 105.185 Low Jun 13
  • SUP 2: 105.000 Round number support
  • SUP 3: 104.960 Low Mar 13 (cont)
  • SUP 4: 104.695 Low Mar 10 (cont)

Schatz futures traded lower yesterday and cleared support at 105.330, the May 26 low and bear trigger. The break confirms a resumption of the downtrend and maintains the current bearish price sequence of lower lows and lower highs. This opens the 105.000 handle next. Note that moving average studies remain in a bear mode condition, highlighting a downtrend. Initial firm resistance is seen at 105.550, the Jun 12 high.

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