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(U9) Strong rebound *RES 4: 112.631....>

SCHATZ TECHS
SCHATZ TECHS: (U9) Strong rebound
*RES 4: 112.631 Bull channel top drawn off the Jun 6 low
*RES 3: 112.610 2.00 projection of Jul 10 - 24 rally from Jul 26 low
*RES 2: 112.600 Contract high Aug 15, 16, 20 and 21
*RES 1: 112.565 Intraday high
*PRICE: 112.555 @ 03:31 GMT Aug 26
*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
U9 Schatz rallied Friday. Does this mark the end of the recent correction?
Resistance at 112.555, the Aug 22 and 23 high has been probed, a continued push
higher today would refocus attention on the contract high and key resistance of
112.600. The top of the bull channel is at 112.631. Clearance of 112.600/631 is
required to confirm a resumption of the uptrend. A move below 112.430 opens the
channel base at 112.391 and resumes the recent correction.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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