(M18) 111.910-111.890 Support To.......>

SCHATZ TECHS: (M18) 111.910-111.890 Support To Hold If Rally To Continue

*RES 4: 112.060 76.4% 112.200-111.590

*RES 3: 112.050 Nov 30 low, 0.5% volatility band

*RES 2: 112.020 Dec 19 low, now resistance

*RES 1: 111.990 Mar 28 high

*PRICE: 111.910 @0840GMT

*SUP 1: 111.890/910 Hourly support, Mar 21, Apr 5 lows

*SUP 2: 111.860 Mar 19 low

*SUP 3: 111.830 Mar 5 high, Mar 14 low

*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, so watching

initial support from the 111.910-111.890 area. A loss of the latter would

caution near term and suggest scope for a further 111.860-111.830 fall. Above

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