(U0) Clears Resistance

• RES 4: 112.341 1.236 projection of Jun 5 - 26 rally from Jul 27 low
• RES 3: 112.280 1.00 projection of Jun 5 - 26 rally from Jul 27 low
• RES 2: 112.274 76.4% retracement of the May - Jun sell-off (cont)
• RES 1: 112.196 61.8% retracement of the May - Jun sell-off (cont)
• PRICE: 112.125 @ 05:14 BST Aug 4
• SUP 1: 112.090 Low Jul 29
• SUP 2: 112.045 Low Jul 28
• SUP 3: 112.020 Low Jul 27 and key support
• SUP 4: 111.975 Low Jun 11

Schatz futures hit a new high of 112.195 early Friday before fading slightly into the close which extended throughout Monday trade. Last week's price action cleared the former key resistance at 112.170, Jul 26 high, marking an important technical breach to confirm a resumption of the recovery that has been in place since early June. Attention is on 112.196 (cont), 61.8% of the May - Jun sell-off. A break would open the 76.4% handle at 112.274 (cont). On the downside, support is at 112.090, Jul 29 low.