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(Z0) Approaching First Resistance

SCHATZ TECHS
  • RES 4: 112.490 2.000 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 3: 112.457 1.764 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 2: 112.460 High Oct 19 / 20 and the bull trigger
  • RES 1: 112.440 High Oct 21 / 22
  • PRICE: 112.430 @ 05:13 GMT Oct 28
  • SUP 1: 112.365 Low Oct 26 and key near-term support
  • SUP 2: 112.360 High Sep 21 and the recent breakout level
  • SUP 3: 112.340 Low Oct 14
  • SUP 4: 112.328 50-day EMA

Schatz futures are still trading below last week's high. The contract however has found support at 112.365, Monday's low and while this level remains intact, early signs are that the recent correction lower may be over. Initial resistance is at 112.440, Oct 21 and 22 high. A breach of this hurdle would expose the bull trigger at 112.460, Oct 19 / 20 high. Weakness below 112.365 however would resume the corrective pullback.

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