(Z17) Pullback Continues, 111.980......>

SCHATZ TECHS: (Z17) Pullback Continues, 111.980 Protects 111.960-111.930

*RES 4: 112.180 Dec 13 high

*RES 3: 112.140 Congestion area Dec 12-15

*RES 2: 112.100/110 Dec 19 high, Dec 14 low

*RES 1: 112.050/070 Hourly resistance

*PRICE: 112.000 @0843GMT

*SUP 1: 111.980 0.1% volatility band

*SUP 2: 111.960 Equality fall from 112.24 to 112.31-112.03

*SUP 3: 111.940 1.618 swing of 112.03-112.24

*SUP 4: 111.930 76.4% Fibo of 111.81-112.31

*COMMENTARY* The loss of 112.080-112.060 returned focus to the downside and

pressure on 112.030-112.020 in particular. Further loss here now relies on the

lower 0.1% volatility band to protect against a deeper 111.960-111.930 fall, as

we give back gains seen since the late June lows at 111.810. Meanwhile,

resistance also falls, 112.050-112.070 currently provides an initial barrier to

any near term recovery hopes.