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(Z3) Strong Reversal

SCHATZ TECHS
  • RES 4: 105.372 76.4% Fibonacci retracement Sep 1 - 21 downleg
  • RES 3: 105.335 High Nov 2 and key resistance
  • RES 2: 105.265 High Nov 17
  • RES 1: 105.145 High Nov 22
  • PRICE: 105.110 @ 05:43 GMT Nov 28
  • SUP 1: 104.915 Low NOv 27 and a key support
  • SUP 2: 104.880/765 Low Oct 20 / 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 reversed course Monday and the cross recovered sharply from the session low. This is a positive development and weakens a bearish threat that followed the breach of support at 104.925, the Nov 14 low. A continuation higher would open 105.265, the Nov 17 high. On the downside, key support is at yesterday’s low of 104.915, a break of this level would be a bearish development.

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