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(Z18) Continued Underperformance.......>

SCHATZ TECHS
SCHATZ TECHS: (Z18) Continued Underperformance
*RES 4: 112.080 High Aug 13,15,17 (continuation chart) 
*RES 3: 112.050 Double bottom target (continuation chart) 
*RES 2: 112.030 High Oct 26 
*RES 1: 111.990 High Nov 5 
*PREVIOUS CLOSE: 111.965 
*SUP 1: 111.875 Low Oct 22 
*SUP 2: 111.870 55-dma 
*SUP 3: 111.745 Low Oct 11 
*SUP 4: 111.710 Low Sep 25,26,27 
Schatz futures continue to underperform the rest of the curve with the trend of
lower highs remaining intact from the Oct 26 peak. A break above 111.990 is
needed to return the focus to the upside in line with price action seen in the
Bund and the Bobl, opening the Oct 26 high. Bears eye the Oct 22 low at 111.875,
below which would strengthen the bearish case opening the 55-dma at 111.870
ahead of a return to the Oct 11 low and the key 111.710 level.

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