(Z18) Targeting The August Lows *RES...>

SCHATZ TECHS: (Z18) Targeting The August Lows

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

*RES 3: 112.020 High Aug 20

*RES 2: 111.970 High Sep 3 

*RES 1: 111.961 55-dma 

*PREVIOUS CLOSE: 111.915 

*SUP 1: 111.880 Low Aug 29 

*SUP 2: 111.850 Low Aug 1 (Continuation chart) 

*SUP 3: 111.815 May 22 (Continuation chart) 

*SUP 4: 111.710 May 15 (Continuation chart) 

The Dec-18 Schatz is under downward pressure as yesterday's large drop brings

the August 29 and August 1 lows into focus. A break below here would be a very

bearish signal suggesting a potential medium-term bearish reversal pattern. For

the bulls, a close above the 55-dma needed to target the Aug 20 peak. A break

above here would shift the focus back to the May 30 spike high.