(M0) Focus Is On Key Supports *RES.....>

SCHATZ TECHS: (M0) Focus Is On Key Supports

*RES 4: 112.270 High May 14, 15 and 18

*RES 3: 112.181 50-day EMA

*RES 2: 112.140 High May 21 and 22 and key near-term resistance

*RES 1: 112.105 High May 26

*PRICE: 112.030 @ 04:54 BST May 29

*SUP 1: 111.980 Low May 27

*SUP 2: 111.965 Low May 9 low and a key support

*SUP 3: 111.925 May 25 low and major support

*SUP 4: 111.797 0.618 projection of Mar 9 - 25 decline from May 4 high

Schatz futures sold off this week to confirm a resumption of the downtrend that

has been in place since peaking at 112.400 on Apr 5. The move lower maintains

the bearish price sequence of lower lows and lower highs reinforcing current

bearish conditions. This has opened 111.965, Apr 9 low ahead of the major

support 111.925, Mar 25 low. A break of the latter would strengthen a bearish

argument. On the upside, key short-term resistance is at 112.140.