November 10, 2022 05:56 GMT
(Z2) Bearish Focus
SCHATZ TECHS
- RES 4: 107.770 High Oct 4 and the reversal trigger
- RES 3: 107.610 High Oct 5
- RES 2: 107.165/400 High Nov 1 / High Oct 28 and key resistance
- RES 1: 106.829 20-day EMA
- PRICE: 106.735 @ 05:39 GMT Nov 10
- SUP 1: 106.415 Low Nov 8
- SUP 2: 106.350 Low Oct 21 and the bear trigger
- SUP 3: 106.270 2.50 proj of the Aug 25 - Sep 1 - Sep 6 price swing
- SUP 4: 106.00 Round number support
Schatz futures are trading above Tuesday’s low. The outlook remains bearish and short-term gains are considered corrective. Recent weakness resulted in a break of support at 106.710, the Oct 27 low. A continuation lower would highlight potential for a test of the key support and bear trigger at 106.350, the Oct 21 low. Key resistance is at 107.400, Oct 28 high. Initial resistance is at 106.829, the 20-day EMA.
145 words