SCHATZ TECHS: (M5) Volatile Correction
- RES 4: 107.800 Round number resistance
- RES 3: 107.775 High Apr 7 and the bull trigger
- RES 2: 107.466 61.8% retracement of the Apr 7 - 9 pullback
- RES 1: 107.274 38.2% retracement of the Apr 7 - 9 pullback
- PRICE: 107.140 @ 07:04 BST Apr 10
- SUP 1: 106.965 Low Apr 9
- SUP 2: 106.830 Low Mar 27
- SUP 3: 106.728 76.4% retracement of the Mar 6 - Apr 7 bull cycle
- SUP 4: 106.630 Low Mar 18
Schatz futures have pulled back sharply from this week’s high and the contract is trading in a volatile manner. For now, the move down appears corrective. Price has recently traded through a key resistance at 107.120, the Mar 4 high. The break highlights a stronger bull cycle and signals scope for a climb towards 107.800. Initial firm support to watch lies at 106.965, yesterday’s low.
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LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 12-Mar | 845 | EU | Lagarde at "ECB and Its Watchers" conference Frankfurt |
| 12-Mar | 1515 | EU | Lane at "ECB and Its Watchers" conference Frankfurt |
| 13-Mar | 950 | EU | ECB de Guindos in fireside chat |
| 13-Mar | 1000 | EU | Industrial Production |
| 14-Mar | 700 | DE | HICP (f) |
| 14-Mar | 745 | FR | HICP (f) |
| 14-Mar | 800 | ES | HICP (f) |
| 14-Mar | 900 | IT | Industrial Production |
| 14-Mar | 1315 | EU | ECBs Cipollone in panel discussion |
| 17-Mar | 900 | IT | HICP (f) |
| 18-Mar | 1000 | EU | Trade Balance |
| 18-Mar | 1000 | DE | ZEW Current Conditions/Expectations Index |
| 19-Mar | 1000 | EU | HICP (f) |
| 19-Mar | 1200 | EU | ECB de Guindos In Madrid |
| 19-Mar | 1300 | EU | ECB Elderson At European Financials Conference |
BOBL TECHS: (M5) Bear Threat Remains Present
- RES 4: 118.310 Low Mar 3
- RES 3: 118.090 High Mar 5
- RES 2: 117.850 Low Feb 20
- RES 1: 117.316 38.2% retracement of the Feb 28 - Mar 6 sell-off
- PRICE: 117.110 @ 05:58 GMT Mar 11
- SUP 1: 116.250 Low Mar 6 and the bear trigger
- SUP 2: 116.309 3.618 proj of the minor Feb 28 - Mar 3 - 4 price swing
- SUP 3: 116.309 3.618 proj of the minor Feb 28 - Mar 3 - 4 price swing
- SUP 4: 116.202 3.764 proj of the minor Feb 28 - Mar 3 - 4 price swing
A bear threat in Bobl futures remains in play, following last week’s sell-off. Short-term support at 117.850, the Feb 20 low, has recently been cleared. The subsequent impulsive sell-off signals scope for an extension towards the 116.000 handle. The contract is in oversold territory. Gains would be considered corrective and a recovery would allow this set-up to unwind. Firm resistance to watch is seen at 117.850, the Feb 20 low.
EQUITY TECHS: E-MINI S&P: (H5) Impulsive Sell-Off Extends
- RES 4: 6178.75 High Dec 6 ‘24 and key resistance
- RES 3: 6166.50 High Jan 19
- RES 2: 5979.06 50-day EMA
- RES 1: 5791.00/5912.01 High Mar 7 / 20-day EMA
- PRICE: 5630.75 @ 05:52 GMT Mar 11
- SUP 1: 5558.00 Intraday low
- SUP 2: 5523.00 Low Sep 11 2024
- SUP 3: 5499.25 Low Sep 9 2024
- SUP 4: 5444.55 76.4% retracement of the Aug 5 - Dec 6 ‘24 bull leg
A bear threat in S&P E-Minis remains present and Monday’s extension strengthens bearish conditions. The move down also reinforces the significance of the breach of 5809.00, the Jan 13 low. This level marked the mid-point of a double top on the daily chart and the break confirms the pattern and an important short-term reversal. Sights are on 5499.25, the Sep 9 2024 low. Firm resistance to watch is 5979.06, the 50-day EMA.
