(Z18) Above 112 Needed To Reignite.....>

SCHATZ TECHS: (Z18) Above 112 Needed To Reignite Bulls

*RES 4: 112.130 High Jul 2 (continuation chart) 

*RES 3: 112.080 High Aug 13,15,17 (continuation chart) 

*RES 2: 112.050 Double bottom target (continuation chart) 

*RES 1: 112.030 High Oct 26 

*PREVIOUS CLOSE: 111.990 

*SUP 1: 111.955 Low Oct 22 

*SUP 2: 111.873 55-dma 

*SUP 3: 111.745 Low Oct 11 

*SUP 4: 111.710 Low Sep 25,26,27 

Schatz futures have now closed below 1120.00 for the past two days despite

breaking above this level in intraday trading, which gives bears some cause for

cheer. A break below the Oct 25 low at 111.955 would give bears some momentum to

target the 55-dma at 111.873, below which the outlook turns negative. On the

upside, bulls need to overcome Friday's high to extend gains towards the double

bottom target at 112.050.