(M0) Remains Vulnerable *RES 4:........>

SCHATZ TECHS: (M0) Remains Vulnerable

*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: 112.130 @ 05:05 BST May 22

*SUP 1: 112.070 Low May 20

*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

Despite a minor recovery, Schatz futures remain vulnerable following this week's

sell-off having extended the decline from the May 4 high of 112.400. Support at

112.075, Apr 23 low has been probed and a clear break would give way to a deeper

decline 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 112.400 once again, May 4 high.