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(Z17) Recovery Needs 111.940-111.960...>

SCHATZ TECHS: (Z17) Recovery Needs 111.940-111.960 Break To Add Impetus
*RES 4: 112.030 50% Fibo of 112.240-111.850
*RES 3: 112.000 Jan 3, Jan 9 highs, 38.2% of 112.240-111.850
*RES 2: 111.960 Hourly basing area Jan 9-10
*RES 1: 111.940 Jan 4, Jan 8 lows, Jan 19 high
*PRICE: 111.930 @0930GMT
*SUP 1: 111.860 Hourly support
*SUP 2: 111.830 Jan 12 low
*SUP 3: 111.800/810 0.1% volatility band, Jun 28 low
*SUP 4: 111.750 1.618 swing of 111.850-112.000
*COMMENTARY* The recovery from the month's earlier fall to 111.830 has broken
back above 111.890 but now needs the further impetus of a 111.940-111.960 break,
in order to continue the correction of losses sustained since the 112.000 high
on Jan 9. Failure to conquer this area will see focus return lower with 111.860
currently protecting against a 111.830 return and potentially lower. 

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