(Z17) Back Above 111.860 Needed For....>

SCHATZ TECHS: (Z17) Back Above 111.860 Needed For Near Term Respite

*RES 4: 112.000 Jan 9 high

*RES 3: 111.950 Jan 22 high

*RES 2: 111.910 Hourly basing area Jan 24, now resistance

*RES 1: 111.860 Hourly resistance

*PRICE: 111.800 @0955GMT

*SUP 1: 111.770 0.1% volatility band

*SUP 2: 111.710 Mar 14 low, 38.2% of 110.020-112.750

*SUP 3: 111.660 0.2% volatility band

*SUP 4: 111.640 9 week bear channel base projection

*COMMENTARY* Has found some support from the lower 0.1% volatility band at

111.770 today. Again is heavily oversold on a near term basis, the band

protecting against a deeper 111.710 fall. Resistance comes initially from

111.860 but currently requires a move back above 111.910 before the immediate

downside bias is arrested and allow some further correction of recent losses

from 112.00-112.310.