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(Z0) Testing Key Short-Term Support

SCHATZ TECHS
  • RES 4: 112.385 High Jul 30
  • 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, 5, 9 and intraday high
  • PRICE: 112.325 @ 05:29 BST Oct 12
  • SUP 1: 112.291 20-day EMA
  • SUP 2: 112.255 Low Oct 7
  • SUP 3: 112.250 Low Sep 17 and key near-term support
  • SUP 4: 112.240 Low Sep 11

Schatz futures rebounded last week off 112.255, Oct 7 low easing has eased recent bearish pressure. Attention turns to overhead resistance at 112.325, Oct 2 and 5 high and a key intraday hurdle. A clear break would improve the short-term outlook and signal scope for strength towards the 112.360 high from Sep 21. A breach would confirm a resumption of the broader uptrend. Weakness through 112.255 is required to renew bearish pressure.

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