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(Z2) Key Support Remains Exposed

SCHATZ TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income News
  • 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: 106.843 20-day EMA
  • PRICE: 106.620 @ 05:28 GMT Nov 9
  • 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

The move lower last week in Schatz futures undermines a recent bull theme and this week’s extension lower reinforces a bearish threat. Short-term gains are considered corrective - for now. The contract has cleared initial support at 106.710, 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 106.843, the 20-day EMA.

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  • 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: 106.843 20-day EMA
  • PRICE: 106.620 @ 05:28 GMT Nov 9
  • 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

The move lower last week in Schatz futures undermines a recent bull theme and this week’s extension lower reinforces a bearish threat. Short-term gains are considered corrective - for now. The contract has cleared initial support at 106.710, 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 106.843, the 20-day EMA.