(Z18) Bears Regain The Momentum .......>

SCHATZ TECHS: (Z18) Bears Regain The Momentum 

*RES 4: 112.020 High Aug 17 

*RES 3: 111.970 High Sep 3 

*RES 2: 111.895 High Sep 6 

*RES 1: 111.872 55-dma 

*PREVIOUS CLOSE: 111.750 

*SUP 1 111.710 Low Sep 25,26,27 

*SUP 2 111.600 Support 

*SUP 3 111.510 Bear channel bottom (continuation chart) 

*SUP 4 111.360 Low Dec 2015 (continuation chart) 

Despite failing to break back below cycle lows at 111.710, the bearish trend is

regaining momentum, and a break below this level would likely trigger fresh

declines. Channel support comes in at around 111.510 on the continuation chart

in the event of a bearish break. Bulls need to recover Tuesday's high to

challenge 55-dma resistance at 111.872, above which they can target the Sep 6

high.