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(U9) Fresh contract high *RES 4:.......>

SCHATZ TECHS
SCHATZ TECHS: (U9) Fresh contract high
*RES 4: 112.610 2.000 Fibo projection of Jul 10-Jul 24 rally from Jul 26 low
*RES 3: 112.575 Channel top drawn off June 6 low
*RES 2: 112.543 1.618 Fibo projection of Jul 10-Jul 24 rally from Jul 26 low
*RES 1: 112.540 Contract high Aug 12
*PRICE: 112.530 @ 03:06 GMT Aug 13
*SUP 1: 112.495 Low Aug 9 and 12
*SUP 2: 112.410 Low Aug 7
*SUP 3: 112.385 High Jul 24
*SUP 4: 112.335 Bull channel base drawn of the June 6 low
U9 Schatz underlying uptrend remains intact with a fresh contract high put in at
112.540 yesterday. Despite being in overbought territory, price action continues
to push higher with no real bearish threat on the horizon just yet. The break
higher opens 112.543 next, the 1.618 Fibonacci projection. Above here, potential
would be for a climb towards 112.575/610. Initial support lies at 112.495 ahead
of 112.104. Look for the contract to extend the upside.

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