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

SCHATZ TECHS
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. 

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