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(Z3) Resistance Remains Intact

SCHATZ TECHS
  • RES 4: 105.560 High Sep 1
  • RES 3: 105.440 High Sep 4
  • RES 2: 105.372 76.4% Fibonacci retracement Sep 1 - 21 downleg
  • RES 1: 105.190/105.320 High Oct 12 / 10 and the bull trigger
  • PRICE: 105.075 @ 05:47 BST Oct 16
  • SUP 1: 105.035 Low Oct 12 Sep 104.905 Low Oct 4
  • SUP 2: 104.905 Low Oct 4 r
  • SUP 3: 104.765 Low Sep 21 and the bear trigger
  • SUP 4: 104.720 2.00 proj of the Aug 24 - 30 - Sep 1 price swing

Schatz futures continues to trade below resistance at 105.320, the Oct 10 high and a short-term bull trigger. A break below support at 15.035, the Oct 10 low, would strengthen a bearish theme and pave the way for weakness towards support at 104.905, the Oct 4 low. Further out, the bear trigger lies at 104.765, the Sep 21 low. A break of this level would confirm a resumption of the medium-term downtrend.

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