(H0) Focus Remains On Key Support......>

SCHATZ TECHS: (H0) Focus Remains On Key Support

*RES 4: 112.045 High Nov 20

*RES 3: 112.040 High Jan 8 and bull trigger

*RES 2: 111.960 High Jan 9

*RES 1: 111.930 High Jan 13

*PRICE: 111.905 @ 04:52 GMT Jan 21

*SUP 1: 111.885 Low Jan 2 and Jan 14 plus key support

*SUP 2: 111.880 1.00 projection of Nov 20 - Jan 2 decline from Jan 8 high

*SUP 3: 111.842 1.236 projection of Nov 20 - Jan 2 decline from Jan 8 high

*SUP 4: 111.819 1.382 projection of Nov 20 - Jan 2 decline from Jan 8 high

H0 Schatz is consolidating and trading at the lower end of this month's range.

The outlook is unchanged and futures are seen likely to remain soft. The

pullback on Jan 8 weighs on sentiment. The bearish significance of the sell-off

was reinforced by the fact price failed to hold and close above the 50-day EMA.

The focus is on key support and the bear trigger at 111.885, Jan 2 and Jan 14

lows. A break would open 111.880 and 111.842. Resistance is at 111.930.