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(Z3) Clears Support

SCHATZ TECHS
  • RES 4: 105.580 High Aug 24 and a key resistance
  • RES 3: 105.440 High Sep 4
  • RES 2: 105.395 High Sep 5
  • RES 1: 105.240/310 High Sep 12 / 8
  • PRICE: 105.105 @ 06:06 BST Sep 14
  • SUP 1: 105.010 Low Sep 13
  • SUP 2: 105.000 Round number support
  • SUP 3: 104.980 1.382 proj of the Aug 24 - 30 - Sep 1 price swing
  • SUP 4: 104.930 1.50 proj of the Aug 24 - 30 - Sep 1 price swing

Schatz futures maintain a bearish tone and yesterday’s break lower reinforces this theme. The contract has cleared support at 105.130, the Sep 7 low. This confirms a resumption of the downtrend and maintains the current bearish price sequence of lower lows and lower highs. The focus is on the 105.00 handle. A break would open 104.980, a Fibonacci projection. On the upside, firm resistance has been defined at 105.310, the Sep 8 high.

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