(U18) Weakness Persists *RES 4:........>

SCHATZ TECHS: (U18) Weakness Persists

*RES 4: 112.270 High May 30 

*RES 3: 112.130 High July 2 

*RES 2: 112.080 High July 6/Aug13,15,17 

*RES 1: 112.030 High Aug 22 

*PREVIOUS CLOSE: 111.950 

*SUP 1: 111.920 Low Aug 8 

*SUP 2: 111.850 Low Aug 1 

*SUP 3: 111.815 May 22 

*SUP 4: 111.710 May 15 

Yesterday marked the sixth consecutive down day for the Sep-18 Schatz, with

bears firmly in control and targeting the early Aug lows at 111.850. The failure

of the contract to hit a new high earlier this month, in contrast to the Bund

and the Bobl, highlights the underperformance of the Schatz, which shows no sign

of ending. Bulls need to overcome the Aug 22 highs of 112.030 to return the

focus to the upside.