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(Z0) Corrective Pullback

SCHATZ TECHS
  • RES 4: 112.420 1.500 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 3: 112.403 1.382 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 2: 112.383 1.236 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 1: 112.360 High Sep 21
  • PRICE: 112.300 @ 05:07 BST Sep 24
  • SUP 1: 112.275 Low Sep 21
  • SUP 2: 112.250 Low Sep 17 and key near-term support
  • SUP 3: 112.210 Low Sep 10 and the reversal trigger
  • SUP 4: 111.190 Low Sep 1

Schatz futures traded higher Monday clearing resistance at 112.325, Sep 8, 9 high and the recent bull trigger. The contract has since corrected lower. The break higher Monday confirms a resumption of the uptrend that has been in place since Aug 26 and paves the way for an extension of the current uptrend. The focus is on 112.383 and 112.403, both Fibonacci projections. On the downside, firm support is seen at 112.250, Sep 17 low.

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