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(Z2) Trend Direction Remains Down

SCHATZ TECHS
  • RES 4: 109.280 High Aug 17
  • RES 3: 109.000 Round number resistance
  • RES 2: 108.845 High Aug 25
  • RES 1: 108.045/570 High Sep 9 / 6 and key short-term resistance
  • PRICE: 107.735 @ 05:19 BST Sep 15
  • SUP 1: 107.625 Low Sep 14
  • SUP 2: 107.470 1.00 proj of the Aug 25 - Sep 1 - Sep 2 price swing
  • SUP 3: 107.253 1.236 proj of the Aug 25 - Sep 1 - Sep 2 price swing
  • SUP 4: 107.00 Round number support

The Schatz futures trend direction remains down and a fresh low Wednesday of 107.625 confirms an extension of the bear cycle. This also maintains the current bearish price sequence of lower lows and lower highs with moving average studies in a bear mode position. The focus is on 107.470, a Fibonacci projection. On the upside, initial firm firm resistance is seen at 108.570, the Sep 6 high.

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