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SCHATZ TECHS: (Z17) 112.000 Cap Sees Risk Revert Lower Again
*RES 4: 112.000 Jan 3, Jan 9 highs, 38.2% of 112.240-111.850
*RES 3: 111.980 Intraday high
*RES 2: 111.940 Jan 4, Jan 8 lows, now resistance
*RES 1: 111.920 Hourly resistance
*PRICE: 111.860 @1505GMT
*SUP 1: 111.840/850 Jul 6, Dec 27 lows
*SUP 2: 111.810 Jun 28 low
*SUP 3: 111.750 1.618 swing of 111.850-112.000
*SUP 4: 111.730 0.2% volatility band
*COMMENTARY* December's fall from 112.240, culminated in a drop to 111.850 at
the back end of the year, before regaining some ground. This saw resistance from
112.000, the 38.2% Fibo retrace level, as the near term barrier to any recovery.
Failure to return above here has swiftly seen the bias return to the downside
today, 111.850-111.840 now protecting against a further 111.810-111.750 fall.
Resistance 111.920-111.940 ahead of the day's 111.980 high.