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(U9) Stalled at Friday's high *RES.....>

SCHATZ TECHS
SCHATZ TECHS: (U9) Stalled at Friday's high
*RES 4: 113.000 Psychological level
*RES 3: 112.569 Channel top drawn off June 6 low
*RES 2: 112.543 1.618 Fibo projection of Jul 10-Jul 24 rally from Jul 26 low
*RES 1: 112.520 Contract high Aug 12
*PRICE: 112.505 @ 03:18 GMT Aug 12
*SUP 1: 112.477 5-DMA
*SUP 2: 112.410 Low Aug 7
*SUP 3: 112.329 Bull channel base drawn of the June 6 low
*SUP 4: 112.260 Low Jul 26
U9 Schatz underlying uptrend remains intact with a fresh contract high put in at
112.520 on Friday. The inability however to hold onto Friday's high, together
with overbought momentum conditions could be a sign a correction is due
near-term. Pullbacks to the 5-DMA at 112.477 cannot be ruled out and potentially
towards 112.410, the Aug 7 low. The bull channel base lies at 112.329. The
trigger for gains is Friday's high of 112.520.

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