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(Z2) Resistance Remains Intact - For Now

  • RES 4: 107.610 High Oct 5
  • RES 3: 107.400 High Oct 28 and key resistance
  • RES 2: 107.116 50-day EMA
  • RES 1: 107.075 High Nov 11
  • PRICE: 106.795 @ 05:28 GMT Nov 23
  • SUP 1: 106.615/415 Low Nov 10 / 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 unchanged and continue to trade in a range and above the Nov 8 low. The trend condition is bearish, however, a resumption of gains would expose resistance at the 50-day EMA which intersects at 107.116. Clearance of this EMA would signal scope for a stronger short-term recovery. On the downside, key support lies at 106.415, the Nov 8 low and 106.350, the Oct 21 low. The latter is the bear trigger.

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