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(Z0) Move Lower Extends

SCHATZ TECHS
  • RES 4: 112.383 1.236 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 3: 112.360 High Sep 21 and the bull trigger
  • RES 2: 112.325 High Oct 2 and 5
  • RES 1: 112.290 High Oct 6 and 7
  • PRICE: 112.265 @ 05:15 BST Oct 8
  • SUP 1: 112.255 Low Oct 7
  • SUP 2: 112.250 Low Sep 17 and key near-term support
  • SUP 3: 112.240 Low Sep 11
  • SUP 4: 112.210 Low Sep 10 and the reversal trigger

Schatz futures have this week continued to edge lower and yesterday the contract breached support at 112.265, Oct 1 low. The move lower highlights an extension of the current corrective pullback with the focus on 112.250 next, Sep 17 low. A breach of this support would open 112.240, Sep 11 low. On the upside, initial resistance has been defined at 112.290, Oct 6 and 7 high. A break would signal a near-term reversal.

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