(M18) Topside Hesitation Less Than.....>

SCHATZ TECHS: (M18) Topside Hesitation Less Than Ideal

*RES 4: 111.990 Monthly High Mar 28 

*RES 3: 111.945 Highs Apr 5 & 6 

*RES 2: 111.941 Bollinger band top 

*RES 1: 111.940 High May 4

*PREVIOUS CLOSE: 111.915

*SUP 1: 111.900 Low Nay 4 

*SUP 2: 111.875 Low Apr 27 

*SUP 3: 111.864 55-DMA 

*SUP 4: 111.830 Low Mar 14

*COMMENTARY: With bulls currently focused on a break of 111.945 needed to

confirm initial focus on 111.990 topside hesitation is less than ideal. Initial

support is now noted at 111.900 but bears look for a close below the 55-DMA to

confirm an easing of bullish pressure. Below 111.805 is then needed to confirm a

break of the 100-DMA (100.818) and shift immediate focus to 111.715. The

Bollinger top remains the key concern for bulls and limits follow through.