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(Z3) Watching Support

SCHATZ TECHS
  • RES 4: 105.440 High Sep 4
  • RES 3: 105.372 76.4% Fibonacci retracement Sep 1 - 21 downleg
  • RES 2: 105.335 High Nov 2 and key resistance
  • RES 1: 105.145/265 High Nov 22 / 17
  • PRICE: 104.980 @ 05:37 GMT Nov 24
  • SUP 1: 104.925 Low Nov 13 and key short-term 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 maintain a bullish tone despite the latest pullback from 105.265, the Nov 17 high. A bullish engulfing candle was confirmed on Nov 14. If correct, the pattern continues to signal scope for a climb towards key resistance at 105.335, the Nov 2 high. Clearance of this hurdle would strengthen the case for bulls. On the downside, a breach of 104.925, the Nov 14 low, would cancel the reversal signal and reinstate a bearish threat.

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