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(U4) Remains Above Support At The 20-Day EMA

SCHATZ TECHS
  • RES 4: 107.120 2.00 proj of the May 24 - Jun 14 - Jul 5 price swing
  • RES 3: 107.000 Round number resistance
  • RES 2: 106.916 1.764 proj of the May 24 - Jun 14 - Jul 5 price swing
  • RES 1: 106.500/106.810 High Aug 6 / 5 and the bull trigger
  • PRICE: 106.385 @ 06:04 BST Aug 14
  • SUP 1: 106.123 20-day EMA
  • SUP 2: 105.913/893 50-day EMA / Low Jul 22
  • SUP 3: 105.495 Low Jul 11
  • SUP 4: 105.390 Low Jul 5 and a key support

An uptrend in Schatz futures remains intact and the latest pullback appears to be a correction. The contract remains above an initial firm support at 106.123, the 20-day EMA. A clear break of this EMA would be seen as an early bearish development. For bulls, a resumption of gains would signal the end of the corrective cycle and open 106.916, a Fibonacci projection. Note that moving average studies are in bull-mode setup, highlighting an uptrend.

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