(Z17) 112.000 Break Needed Or Risk.....>

SCHATZ TECHS: (Z17) 112.000 Break Needed Or Risk Reverts Lower Again

*RES 4: 112.150 Congestion area Dec 12-13

*RES 3: 112.100 Dec 19 high

*RES 2: 112.030 Nov 30 low, now resistance

*RES 1: 112.000 Jan 3 high

*PRICE: 111.970 @0855GMT

*SUP 1: 111.920/930 Dec 22, Dec 29 lows

*SUP 2: 111.870 0.1% volatility band

*SUP 3: 111.840/850 Jul 6, Dec 27 lows

*SUP 4: 111.810 Jun 28 low

*COMMENTARY* December's fall from a high of 112.240, culminated in a drop to

111.850 at the back end of the year, before regaining some ground. This sees

resistance from below 112.000 as the near term barrier to any recovery at

present. Will need to see a move back above here shortly, or risk will return

lower, 111.930-111.920 then protecting the lower 0.1% volatility band at 111.870

and ultimately 111.850-111.840 again.