(Z18) Tough Resistance Overhead *RES...>

SCHATZ TECHS: (Z18) Tough Resistance Overhead

*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: 111.871 55-dma 

*SUP 3: 111.745 Low Oct 11 

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

Schatz futures failed yet again to establish a higher high yesterday which

raises the potential for a bearish reversal. Bears eye the Oct 22 low at

111.875, below which would create some downside momentum opening the 55-dma at

111.871 ahead of a return to the Oct 11 low and the key 111.710 level. On the

upside, 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.