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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.