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(Z0) Bulls In The Driving Seat

SCHATZ TECHS
  • RES 4: 112.505 61.8% retracement of the Mar - Jun sell-off (cont).
  • RES 3: 112.490 2.000 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 2: 112.457 1.764 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 1: 112.450 High Oct 15
  • PRICE: 112.425 @ 05:12 BST Oct 19
  • SUP 1: 112.365 Low Oct 15
  • SUP 2: 112.340 Low Oct 14
  • SUP 3: 112.305 20-day EMA
  • SUP 4: 112.255 Low Oct 7 and key trend support

Schatz futures outlook remains bullish following last week's accelerated gains. Futures cleared key resistance at 112.360, Sep 21 high, reinforcing the current positive tone, confirming a resumption of the broader uptrend. The move higher has opened 112.457 next, a Fibonacci projection. Moving average studies are in a bull mode too, reinforcing current trend conditions. Initial support is at 112.365, Oct 15 low.

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