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(Z2) 20-day EMA Returns as Resistance

SCHATZ TECHS
  • RES 4: 108.845 High Aug 25
  • RES 3: 108.570 High Sep 6 and a key resistance
  • RES 2: 108.010 High Sep 13
  • RES 1: 107.344 / 107.770 20-day EMA / High Oct 4
  • PRICE: 107.035 @ 08:33 BST Oct 7
  • SUP 1: 106.945 Low Oct 7
  • SUP 2: 106.535 Low Sep 26 and key support
  • SUP 3: 106.379 2.382 proj of the Aug 25 - Sep 1 - Sep 6 price swing
  • SUP 4: 105.800 Low Nov 2008 (cont)

The primary trend direction in Schatz futures remains down, with the corrective bump higher for core fixed income fading through the end of the week. The return back below the 20-day EMA signals the corrective phase has faltered, with initial firm support at 106.960, the Sep 30 low, already being tested. Any return higher needs to top 107.414 ahead of 108.010, the Sep 13 high.

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