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(Z17) Above 112.240 To Ease Bearish....>

SCHATZ TECHS
SCHATZ TECHS: (Z17) Above 112.240 To Ease Bearish Pressure
*RES 4: 112.285 High Nov 15 
*RES 3: 112.257 21-DMA 
*RES 2: 112.240 Low Oct 27 now resistance 
*RES 1: 112.235 High Nov 28
*PREVIOUS CLOSE: 112.210
*SUP 1: 112.185 Low Nov 28 
*SUP 2: 112.150 Low Oct 25 
*SUP 3: 112.122 100-DMA 
*SUP 4: 112.105 Low Oct 6
*COMMENTARY: Time spent below the 55-DMA (112.204) was brief with the contract
bouncing. Bulls need a close above 112.240 to ease bearish pressure and above
112.285 to return focus to 112.315. Initial support is now noted at 112.185 with
bears needing a close below to retain immediate focus on 112.150 and overall
focus on 112.065-122 where the 100-DMA and monthly lows are situated. Daily
studies correcting from O/S is a concern for bears but 112.240 is key.

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