(U18) Decline Nears Key Near Term......>

SCHATZ TECHS: (U18) Decline Nears Key Near Term Support

*RES 4: 112.090/100 Congestion area Jun 22-Jul 4

*RES 3: 112.060 Jul 11 high

*RES 2: 112.040 Jul 18, Jul 20 highs

*RES 1: 112.000/020 Hourly resistance

*PRICE: 111.970 @1455GMT

*SUP 1: 111.930 76.4% Fibo of 111.860-112.140

*SUP 2: 111.900 0.1% volatility band

*SUP 3: 111.890 5 month bull channel base projection

*SUP 4: 111.860 Jun 14 low

*COMMENTARY* The failure to deal with triple resistance from 112.140 is now

having downside repercussions. The loss of 111.990-111.970 support over the last

couple of days, leaves the 76.4% Fibo retrace level at 111.930, as the next

support and protection to the projected base of the 5 month bull channel at

111.890. As a consequence, resistance moves lower, 112.000-112.020 now the first

area of note, with the Jul 18 & Jul 20 highs at 112.040, more important higher.