(U0) Still Heading Lower *RES 4:.......>

SCHATZ TECHS: (U0) Still Heading Lower

*RES 4: 112.160 High May 19 (cont)

*RES 3: 112.140 High May 21 and 22 (cont)

*RES 2: 112.115 High Jun 2 and key near-term resistance

*RES 1: 112.070 High Jun 3

*PRICE: 111.9550 @ 05:34 BST Jun 5

*SUP 1: 111.950 Intraday low

*SUP 2: 111.925 Mar 25 low and major support (cont)

*SUP 3: 111.920 Low Jan 24 (cont)

*SUP 4: 111.880 Low Jan 21 YTD low (cont)

Schatz futures outlook remains bearish. The contract remains weak following this

week's breach of support 112.010 to confirm a resumption of the current

downtrend. The move lower maintains a bearish price sequence of lower lows and

lower highs that defines a downtrend. This has opened the major support at

111.925, Mar 25 low (cont). A break would strengthen a bearish argument. Key

resistance is 112.115, Jun 2 high.