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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 @1525GMT
*SUP 1: 111.930 76.4% Fibo of 111.860-112.140
*SUP 2: 111.900 5 month bull channel base projection
*SUP 3: 111.880 0.1% vgolatility band
*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
few 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 111.900. 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.