(Z18) Downtrend Still Intact...Just....>

SCHATZ TECHS: (Z18) Downtrend Still Intact...Just

*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: 111.960 

*SUP 1: 111.875 Low Oct 22 

*SUP 2: 111.869 55-dma 

*SUP 3: 111.745 Low Oct 11 

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

Bulls were unable to take out the Nov 5 highs at 111.990 yesterday keeping the

trend of lower highs intact for now. However, a break above this level would

return the focus to the upside in line with price action seen in the Bund and

the Bobl. Bears eye the Oct 22 low at 111.875, below which would likely add to

the downside momentum and target the 55-dma at 111.869 ahead of a return to the

Oct 11 low and the key 111.710 level.