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(Z3) Clears Resistance

SCHATZ TECHS
  • RES 4: 105.580 High Aug 24 and a key resistance
  • RES 3: 105.560 High Sep 1
  • RES 2: 105.440 High Sep 4
  • RES 1: 105.415 High Nov 29
  • PRICE: 105.370 @ 05:46 GMT Nov 29
  • SUP 1: 105.250/105.109 Low Nov 29 / 50-day EMA
  • SUP 2: 104.915 Low Nov 27 and a key support
  • SUP 3: 104.880/765 Low Oct 20 / Sep 21 and the bear trigger
  • SUP 4: 104.720 2.00 proj of the Aug 24 - 30 - Sep 1 price swing

Schatz futures reversed course Monday and the cross has continued to appreciate. The continuation higher has resulted in a break of resistance at 105.335, the Nov 2 high and a bull trigger. The break strengthens a bullish theme and confirms a resumption of the bull cycle that started Sep 21. This signals scope for a climb towards 105.440, the Sep 4 high. On the downside, initial firm support to watch lies at 105.109, the 50-day EMA.

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