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(Z0) Tests Key Resistance

SCHATZ TECHS
  • RES 4: 112.523 2.236 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 3: 112.505 61.8% retracement of the Mar - Jun sell-off (cont)
  • RES 2: 112.490 2.000 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 1: 112.460 High Oct 19 / 20 / 28 and intraday high
  • PRICE: 112.455 @ 05:06 GMT Oct 29
  • SUP 1: 112.425 Low Oct 27
  • SUP 2: 112.377 20-day EMA
  • SUP 3: 112.365 Low Oct 26 and key near-term support
  • SUP 4: 112.360 High Sep 21 and the recent breakout level

Schatz futures traded higher yesterday resulting in a test of key resistance at 112.460, Oct 19 /20 high and this week's high thus far. A break of this hurdle would confirm a resumption of the underlying uptrend and pave the way for strength towards 112.490, a Fibonacci projection level. Key trend support has been defined at 112.365, Oct 26 low where a break is required to reverse the direction. Initial support lies at 112.425, yesterday's low.

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