(M18) 111.890 Support Gives Way........>

SCHATZ TECHS: (M18) 111.890 Support Gives Way Exposing 111.860-111.830

*RES 4: 112.050 Nov 30 low, 0.5% volatility band

*RES 3: 112.020 Dec 19 low, now resistance

*RES 2: 111.990 Mar 28 high

*RES 1: 111.940/960 Hourly resistance

*PRICE: 111.880 @1241GMT

*SUP 1: 111.860 Mar 19 low

*SUP 2: 111.830 Mar 5 high, Mar 14 low

*SUP 3: 111.790 Congestion area Mar 1-Mar 8

*SUP 4: 111.770 Feb 26 high, Mar 6 low

*COMMENTARY* Last week was unable to mount another challenge to the Mar 28 high

at 111.990, thereby leaving the next target, the Dec 19 low at 112.020

untroubled for the time being. As a result, became overbought and has today lost

support from the 111.910-111.890 area. Below the latter cautions near term and

suggests scope for a further 111.860-111.830 fall. Resistance 111.940-111.960.

Above 112.020 and not much in the way to prevent a further 112.050-112.060 rise.