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(U9) Testing bull channel top *RES.....>

SCHATZ TECHS
SCHATZ TECHS: (U9) Testing bull channel top
*RES 4: 112.718 2.618 Fibo projection of Jul 10-Jul 24 rally from Jul 26 low
*RES 3: 112.677 2.382 Fibo projection of Jul 10-Jul 24 rally from Jul 26 low
*RES 2: 112.610 2.000 Fibo projection of Jul 10-Jul 24 rally from Jul 26 low
*RES 1: 112.600 Contract high Aug 15 and 16 and the bull channel top
*PRICE: 112.575 @ 03:19 GMT Aug 16
*SUP 1: 112.590 Low Aug 19
*SUP 2: 112.495 Low Aug 9,12 and 13 and key near-term support
*SUP 3: 112.440 Low Aug 8
*SUP 4: 112.410 Low Aug 7
U9 Schatz did not manage to extend its rally Friday, finding resistance at
112.60 as it did on Thursday. This level is an important S/T resistance where a
break would confirm a resumption of the trend and open the 112.61 and 112.677
Fibonacci projections. Note that price action has arrived at the top of its bull
channel drawn of the Jun 6 low that today intersects at 112.600. Key support is
at 112.485, a break would suggest scope for a correction within the channel.

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