(H18) Bears Focused On 2017 Low *RES...>

SCHATZ TECHS: (H18) Bears Focused On 2017 Low

*RES 4: 112.124 100-DMA 

*RES 3: 112.110 55-DMA 

*RES 2: 112.075 Hourly resistance Dec 19 

*RES 1: 112.035 High Dec 20

*PREVIOUS CLOSE: 111.990

*SUP 1: 111.990 Low Dec 20 

*SUP 2: 111.905 Low July 17 (cont) 

*SUP 3: 111.840 Low July 6 (cont) 

*SUP 4: 111.805 2017 Low June 28

*COMMENTARY: The close below the 55-DMA has now resulted in a break and close

below 112.025 with bearish focus now shifting to 111.805-840 where 2017 lows are

situated. The Bollinger band base (112.003) is the key concern for bears with

potential to limit follow through. Layers of resistance accumulating adds to

bearish confidence. Bulls now need a close above 112.035 to ease bearish

pressure and above 112.075 to shift focus back to key DMAs 112.110-124.