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SCHATZ TECHS: (U18) Recovery Still Faces 112.040/112.060 Resistance Next
*RES 4: 112.140 50% Fibo of 112.420/111.860
*RES 3: 112.080/090 38.2% of 112.420/111.860, 0.1% vol band
*RES 2: 112.060 Jun 5, Jun 8 highs
*RES 1: 112.030/040 Jun 15 high, hourly resistance
*PRICE: 112.030 @0745GMT
*SUP 1: 111.960/970 Hourly support
*SUP 2: 111.940 Jun 13 high, now support
*SUP 3: 111.890 Jun 12-13 low
*SUP 4: 111.860 Jun 14 low
*COMMENTARY* The failure to move above 112.060 was again the catalyst for last
week's earlier fall below 111.910, into and below the congested 111.890-111.880
support area. A low of 111.860 before launching a recovery on the back of some
oversold conditions. Nearest resistance from 112.000 has been breached, through
should allow a higher 112.040-112.060 bounce next, as we correct some of the
losses from 112.420. Meanwhile, support rises to 111.970-111.940.