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(U9) Bearish candle patterns *RES 4:...>

SCHATZ TECHS
SCHATZ TECHS: (U9) Bearish candle patterns
*RES 4: 112.450 Range breakout projection
*RES 3: 112.448 Bull channel top drawn off the May 10 low
*RES 2: 112.400 Round number resistance
*RES 1: 112.385 Contract high July 25
*PRICE: 112.300 @ 03:01 GMT July 26
*SUP 1: 112.265 Low Jul 25
*SUP 2: 112.260 Low Jul 18
*SUP 3: 112.235 Low Jul 16
*SUP 4: 112.220/210 Low Jun 19 and 21 / Low Jul 10 and key support
U9 Schatz failed to hold onto highs over the past two trading sessions. Candle
patterns suggest a top is in place for now. Wednesday's doji formation followed
by a bearish engulfing yesterday warns that a correction is likely to develop
near-term. To confirm this outlook, prices need to trade below yesterday's low
of 112.265. This would signal scope for a return to the Jul 10 low of 112.210. A
break of 112.385 resistance is required to negate the bearish patterns.

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