H0) Tests Key Support *RES 4:..........>

SCHATZ TECHS: H0) Tests 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: 111.895 @ 04:56 GMT Jan 15

*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 unchanged and also likely to remain soft near-term. The pullback on

Jan 8 off the high of 112.040 weighs on sentiment. The bearish significance of

the sell-off was reinforced by the fact price also failed to hold and close

above the 50-day EMA, an indicator used as a reliable trend signal. The focus is

on key support and the bear trigger at 111.885, Jan 2 low and yesterday low

where a break would open 111.880 and 111.842. Resistance is at 111.930.