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(Z0) Tests Initial Support

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: 112.320 High Sep 29
  • PRICE: 112.280 @ 04:47 BST Oct 1
  • SUP 1: 112.275 Low Sep 21, 25 and the intraday low
  • 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 are trading at recent lows. Despite the recent pullback, a bullish outlook holds. The contract traded higher Sep 21 clearing resistance at 112.325, Sep 8, 9 high and a recent bull trigger. These gains confirm a resumption of the uptrend that has been in place since Aug 26. The focus is on 112.383 and 112.403, both Fibonacci projections. 112.360, Sep 21 high is the bull trigger. On the downside, firm support is seen at 112.250, Sep 17 low.

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