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(Z0) Trading Ahead Of Key Near-Term Support

SCHATZ TECHS
  • RES 4: 112.490 2.000 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 3: 112.457 1.764 proj of Aug 26 - Sep 9 rally from the Sep 10 low
  • RES 2: 112.460 High Oct 19 / 20 and the bull trigger
  • RES 1: 112.440 High Oct 21 /22
  • PRICE: 112.385 @ 04:58 GMT Oct 27
  • SUP 1: 112.365/4 Low Oct 26 / 20-day EMA
  • SUP 2: 112.360 High Sep 21 and the recent breakout level
  • SUP 3: 112.340 Low Oct 14
  • SUP 4: 112.325 50-day EMA

Schatz futures are trading below last week's high and remain in a corrective cycle. Attention is on support at 112.360, Sep 21 high and recent breakout level. The 20-day EMA intersects at 112.364 reinforcing the short-term importance of support around 112.360. On the upside, clearance of 112.440, Oct 21 and 22 high would refocus attention on the bull trigger at 112.360. Sub 112.60 levels however risk a deeper extension of the recent pullback.

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