(U17) Bears Need Close Below 100-DMA...>

SCHATZ TECHS: (U17) Bears Need Close Below 100-DMA

*RES 4: 112.150 Daily Bull channel top 

*RES 3: 112.110 Low May 30 now resistance 

*RES 2: 112.090 High June 16 

*RES 1: 112.085 High July 31

*PREVIOUS CLOSE: 112.070

*SUP 1: 112.050 100-DMA 

*SUP 2: 112.020 Low July 28, 55-DMA 

*SUP 3: 112.010 Hourly support July 26 

*SUP 4: 112.000 Daily Bull channel base

*COMMENTARY: Higher daily highs and lows continue which adds support to the

bullish case. Layers of resistance remain 112-090/110 with bulls needing a close

above to target 112-180/230 although the channel top may slow the move. Layers

of support continue to accumulate with bears needing a close below the 100-DMA

to ease bullish pressure and shift focus back to 112.000-020 where the bull

channel base and 55-DMA are located.