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(M18) Reaches 112.460 Before Seeing....>

SCHATZ TECHS
SCHATZ TECHS: (M18) Reaches 112.460 Before Seeing A Pullback
*RES 4: 112.510 76.4% Fibo of 112.750-111.720
*RES 3: 112.460 May 29 high
*RES 2: 112.410 Hourly resistance (2)
*RES 1: 112.370 Hourly resistance (1)
*PRICE: 112.280 @0746GMT
*SUP 1: 112.260/270 Hourly support
*SUP 2: 112.220 Intraday hourly base
*SUP 3: 112.170 May 29 low
*SUP 4: 112.150 Hourly base May 28
*COMMENTARY* Finally found a top at 112.460 Tuesday, before pulling back to
112.220, in order to reduce the near term overbought conditions. Now looking at
112.370-112.410 for initial resistance and the barrier to a 112.460 return. Any
higher and the 76.4% Fibo retrace level at 112.510 comes into sight. In the
interim, look to 112.270-112.260 for support ahead of that 112.220 level again,
beneath which rests Tuesday's 112.170 low.

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