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(U9) Correcting within the channel.....>

SCHATZ TECHS
SCHATZ TECHS: (U9) Correcting within the channel
*RES 4: 112.610/625 2.00 proj of Jul 10-24 rally from Jul 26 low/Channel top
*RES 3: 112.600 Contract high Aug 15, 16 and intraday high
*RES 2: 112.555 Aug 22 high
*RES 1: 112.495 Low Aug 9,12 and 13
*PRICE: 112.465 @ 02:55 GMT Aug 23
*SUP 1: 112.430 Low Aug 22
*SUP 2: 112.410 Low Aug 7
*SUP 3: 112.391 Bull channel base drawn off the Jun 6 low
*SUP 4: 112.385 High Jul 24
The inability to clear 112.60 continues to weigh on U9 Schatz with selling
pressure intensifying yesterday. The trend has confirmed the start of a
correction as prices also pull away from the top of the bull channel drawn off
the Jun 6 low. 112.535, the low of Aug 19 has also been breached and the focus
is on a move towards the base of the bull channel at 112.385. The channel base
is a key trend support. Resistance is at 112.495 ahead of 112.555.

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