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(H18) Bears Need Close Below 111.840...>

SCHATZ TECHS
SCHATZ TECHS: (H18) Bears Need Close Below 111.840
*RES 4: 111.985 High Jan 11 
*RES 3: 111.950 High Jan 23 
*RES 2: 111.920 High Feb 6 
*RES 1: 111.890 Hourly resistance Feb 6
*PREVIOUS CLOSE: 111.860
*SUP 1: 111.840 Low Feb 5 
*SUP 2: 111.785 Hourly support Jan 29 
*SUP 3: 111.765 2018 Low Jan 29 
*SUP 4: 111.750 Monthly Low May 3 2016
*COMMENTARY: The 111.950 resistance confirmed significance with the recovery
from 2018 lows capped ahead of this level and the contract again looking a
little heavy. Bears continue to look for a close below 111.840 to return initial
focus to 2018 lows. Correcting O/S studies remain a concern for bears. In saying
that, bulls still need a close above 111.950 to shift initial focus to
111.985-112.037 where 55 & 100-DMAs are located.

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