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(U4) Trend Signal Remains Bullish

SCHATZ TECHS
  • RES 4: 106.225 3.00 proj of the May 24 - Jun 4 - 7 price swing
  • RES 3: 106.091 2.618 proj of the May 24 - Jun 4 - 7 price swing
  • RES 2: 106.009 2.382 proj of the May 24 - Jun 4 - 7 price swing
  • RES 1: 105.975 High Jun 14
  • PRICE: 105.730 @ 06:08 BST Jun 21
  • SUP 1: 105.625/105.543 Low Jun 14 / 20-day EMA
  • SUP 2: 105.310 Low Jun 12
  • SUP 3: 105.110 Low May 24 and the bear trigger
  • SUP 4: 105.000 Round number support

Schatz futures are in consolidation mode and holding on to the bulk of their recent gains. The latest rally has resulted in a break of resistance at 105.460, the Jun 4 / 5 high. This strengthens a short-term bullish condition and signals scope for a continuation higher near-term. Sights are on 106.009 next, a Fibonacci projection. Firm short-term support has been defined at 105.543, the 20-day EMA.

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