(M0) Heavy *RES 4: 112.400 High May....>

SCHATZ TECHS: (M0) Heavy

*RES 4: 112.400 High May 4 and key resistance

*RES 3: 112.370 High May 11

*RES 2: 112.270 High May 14, 15 and 18

*RES 1: 112.160 High May 19

*PRICE: 112.085 @ 05:12 BST May 20

*SUP 1: 112.075 Low Apr 23 and key near-term support

*SUP 2: 112.010 Low Apr 14

*SUP 3: 111.965 Low May 9 low and a key support

*SUP 4: 111.925 May 25 low and major support

Schatz futures sold off again yesterday extending the decline off the May 4 high

of 112.400. Further losses would expose 112.075, Apr 23 low and if this level

gives way a deeper decline would be likely ahead of 111.965, Apr 9 low. On the

upside, a move beyond the recent congestion highs of 112.270, May 14, 15 and 18

is needed to offset the current bearish threat. This would open 112.4000 once

again, May 4 high.