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(U3) Support Remains Intact

  • RES 4: 105.367 100-dma (cont)
  • RES 3: 105.223 50% retracement June-July downleg
  • RES 2: 105.185 High Jul 19 and key short-term resistance
  • RES 1: 105.090 High Jul 24
  • PRICE: 105.010 @ 05:38 BST Jul 25
  • SUP 1: 104.805 Low Jul 17
  • SUP 2: 104.620/104.570 Low Jul 11 / 6 and the bear trigger
  • SUP 3: 104.470 2.00 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 104.335 Low Mar 9 (cont) and a major support

Schatz futures remain in a short-term uptrend despite the recent pullback from 105.185, Jul 19 high. A resumption of gains and a breach of this hurdle would highlight a continuation of the bull cycle and open 105.223 and 105.376, Fibonacci retracement points. On the downside, initial support to watch is 104.805, the Jul 17 low. A break would expose key support and the bear trigger at 104.570, the Jul 6 low.

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