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(Z1) Remains Above The 50-Day EMA

SCHATZ TECHS
  • RES 4: 112.656 76.4% retracement of the Mar - Jun 2020 sell-off
  • RES 3: 112.600 Round number resistance
  • RES 2: 112.585 High Mar 17 2020 (cont)
  • RES 1: 112.515 High Nov 26
  • PRICE: 112.385 @ 05:04 GMT Dec 3
  • SUP 1: 112.292 50-day EMA
  • SUP 2: 112.220/100 Low Nov 5 / Low Nov 3
  • SUP 3: 112.050 Low Nov 2
  • SUP 4: 111.945 Low Oct 28 and major support

The Schatz futures outlook remains bullish despite this week’s pullback, a likely correction. The contract recently probed resistance at 112.495, Nov 22 high. A clear breach would again confirm a resumption of the short-term uptrend from Oct 28 and open 112.585 next, Mar 17 2020 high (cont). Moving average conditions remain in bull mode, reinforcing the current positive theme. Initial firm support lies at 112.292, the 50-day EMA.

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