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(Z0) Resumes Downtrend

SCHATZ TECHS
  • RES 4: 112.410 Low Nov 6
  • RES 3: 112.390 50.0% retracement of the Nov 4 - 11 sell-off
  • RES 2: 112.370 High Nov 20 and 23 and the bull trigger
  • RES 1: 112.335 Dec 1
  • PRICE: 112.275 @ 05:07 GMT Dec 2
  • SUP 1: 112.270 Intraday low
  • SUP 2: 112.261 76.4% retracement of the Aug 26 - Nov 4 rally
  • SUP 3: 112.255 Low Oct 7
  • SUP 4: 112.210 Low Nov 11

Schatz futures have resumed their downtrend following a sharp sell-off yesterday that saw price trade through key support at 112.275, Nov 11 low. This confirms a resumption of the bearish phase that started early November and signals scope for a deeper decline. Scope is seen for a move towards 112.255 next, low Oct 7. On the upside, initial resistance is seen at yesterday's 112.335 high.

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