(M18) Breaking Back Above 5 Week.......>

SCHATZ TECHS: (M18) Breaking Back Above 5 Week Downtrend

*RES 4: 111.990 Mar 28 high, 0.1% volatility band

*RES 3: 111.960 Apr 4 high

*RES 2: 111.930 Apr 13 high

*RES 1: 111.890/910 Apr 26 high, hourly resistance

*PRICE: 111.890 @0729GMT

*SUP 1: 111.830 Mar 5 high, Mar 14, Apr 23, 24 lows

*SUP 2: 111.820 1.618 swing of 111.860-111.930

*SUP 3: 111.790 50% Fibo of 111.590-111.990

*SUP 4: 111.770 0.1% volatility band

*COMMENTARY* Earlier this month 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 as yet. Consequently, became overbought and subsequently lost support

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

suggested scope for a further 111.830-111.770 fall. Today breaking back above

the 5 week downtrend at 111.880 but needs above 111.910 for any real lift.