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(Z1) Outlook Remain Bearish

SCHATZ TECHS
  • RES 4: 112.340 High Aug 31
  • RES 3: 112.305 High Sep 3
  • RES 2: 112.290 High Sep 20 and key near-term resistance
  • RES 1: 112.255 High Sep 23 and Oct 5
  • PRICE: 112.210 @ 05:08 BST Oct 11
  • SUP 1: 112.190 Low Sep 30 and Oct 6
  • SUP 2: 112.174 2.764 proj of the Aug 20 - 26 - 31 price swing
  • SUP 3: 112.159 61.8% retracement of the May - Aug rally (cont)
  • SUP 4: 112.140 Low Jul 5 / 6 (cont)

Schatz futures remain in a downtrend. The recent breach of 112.215, Sep 9 low confirmed a resumption of the downtrend and maintains a bearish price sequence of lower lows and lower highs. Scope is seen for an extension towards 112.174 next, a Fibonacci projection. MA conditions are in a bear mode, reinforcing current conditions. On the upside, key S/T resistance is unchanged at 112.290, Sep 20 high.

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