(U17) Bears Need Close Below 112.010...>

SCHATZ TECHS: (U17) Bears Need Close Below 112.010

*RES 4: 112.110 Low May 30 now resistance 

*RES 3: 112.090 High June 16 

*RES 2: 112.060 100-DMA 

*RES 1: 112.050 High July 27

*PREVIOUS CLOSE: 112.045

*SUP 1: 112.010 Hourly support July 26 

*SUP 2: 111.990 Low July 15 

*SUP 3: 111.970 Low July 24 

*SUP 4: 111.950 Hourly support July 18, Low July 19

*COMMENTARY: The rally Wednesday sees bull's gaining traction above the 55-DMA

(112.020) with immediate pressure now on the 100-DMA. Layers of support are

accumulating with bears now needing a close below 112.010 to shift focus back to

111.950-970 where the daily bull channel base is located. Bulls continue to look

for a close above the 100-DMA to confirm initial focus on 112.090-120 and

overall focus on 112.180-230.