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

SCHATZ TECHS: (H18) Bears Focused On 2017 Low

*RES 4: 112.075 Hourly resistance Dec 19 

*RES 3: 112.035 High Dec 20 

*RES 2: 112.000 High Dec 21 

*RES 1: 111.940 Hourly resistance Dec 22

*PREVIOUS CLOSE: 111.920

*SUP 1: 111.915 Low Dec 22 

*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 resulted in a break and close below

112.025 with bearish focus currently on 111.805-840 where 2017 lows are

situated. The Bollinger band base (111.958) 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 111.940 to ease bearish

pressure and above 112.035 to shift focus back to key DMAs 112.102-122.