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(Z3) Key Support Remains Exposed

SCHATZ TECHS
  • RES 4: 105.440 High Sep 4
  • RES 3: 105.372 76.4% Fibonacci retracement Sep 1 - 21 downleg
  • RES 2: 105.190/105.320 High Oct 12 / 10 and the bull trigger
  • RES 1: 105.013 20-day EMA
  • PRICE: 104.910 @ 06:01 BST Oct 20
  • SUP 1: 104.780 Low Sep 28
  • SUP 2: 104.765 Low Sep 21 and the bear trigger
  • SUP 3: 104.720 2.00 proj of the Aug 24 - 30 - Sep 1 price swing
  • SUP 4: 104.620 Low Jul 11 (cont)

Schatz futures have traded lower this week and remain below resistance at 105.320, the Oct 10 high and a short-term bull trigger. The move below support at 105.035, the Oct 10 low, strengthened a bearish theme and has exposed the key support at 104.765, Sep 21 low. A break of this level would confirm a resumption of the medium-term downtrend. Initial resistance is at 105.013, the 20-day EMA.

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