(U18) Continued Fall Approaches........>

SCHATZ TECHS: (U18) Continued Fall Approaches Congested Support

*RES 4: 112.120 May 31 high

*RES 3: 112.060 Jun 5 high

*RES 2: 112.030 Jun 1 high

*RES 1: 111.960/970 Hourly resistance 

*PRICE: 111.930 @0740GMT

*SUP 1: 111.910 May 23 high, now support

*SUP 2: 111.900 1.618 swing of 112.960-112.060

*SUP 3: 111.880/890 76.4% of 111.710-112.420, May 21 high

*SUP 4: 111.830 76.4% Fibo of 111.650-112.420

*COMMENTARY* The 111.960-111.940 support finally gave way late on Wednesday.

This now sees focus switch to the congested 111.910-111.880 area next. As a

consequence, nearest resistance currently comes from between 111.960-111.970,

back above here will help but the 112.030-112.060 region is a tougher

proposition higher. Lose 111.880 and the 76.4% Fibo retrace level at 111.830

becomes the next down side attraction.