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(Z0) Still Trading Below Recent Highs

SCHATZ TECHS
  • RES 4: 112.403 1.382 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 3: 112.383 1.236 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 2: 112.360 High Sep 21 and the bull trigger
  • RES 1: 112.325 High Oct 2 and 5
  • PRICE: 112.285 @ 04:59 BST Oct 7
  • SUP 1: 112.265 Low Oct 1 and 6
  • 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 found support last week at 112.265 on Oct 1 and again yesterday. Attention remains on this handle where a break would signal scope for a deeper pullback and open 112.250, Sep 17 low and potentially below. From a trend perspective, the outlook is bullish however a break of resistance at 112.36, Sep 21 high is required to confirm a stronger resumption of gains that would open 112.383 initially, a Fibonacci projection.

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