(U0) Corrective Retracement *RES 4:....>

SCHATZ TECHS: (U0) Corrective Retracement

*RES 4: 112.202 76.4% projection of the Jun 5 - 15 rally from the Jun 17 low

*RES 3: 112.196 61.8% retracement of the May 4 - Jun 8 sell-off (cont)

*RES 2: 112.180 High May 22

*RES 1: 112.170 High Jun 26

*PRICE: 112.110 @ 05:07 BST Jul 1

*SUP 1: 112.105 Low Jun 25

*SUP 2: 112.055 Low Jun 24 and the key near-term support

*SUP 3: 112.030 Low Jun 17 and the the bear trigger

*SUP 4: 111.975 Low Jun 11

The current Schatz futures bullish cycle remains intact despite this week's

pullback off recent highs. Gains between Jun 8 - 15 signalled an end to the May

- June downleg and last week's strength reinforced the bullish price sequence of

higher highs and higher lows. Scope is seen for a climb towards 112.180 next,

May 22 high. Initial firm support has been defined at 112.055, Jun 24 low. A

break would undermine the bullish position.