(Z18) Trend Of Lower Highs Continues...>

SCHATZ TECHS: (Z18) Trend Of Lower Highs Continues

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

*RES 3: 112.080 High Aug 13,15,17 (continuation chart) 

*RES 2: 112.050 Double bottom target (continuation chart) 

*RES 1: 112.030 High Oct 26 

*PREVIOUS CLOSE: 111.970 

*SUP 1: 111.945 Low Nov 1 

*SUP 2: 111.872 55-dma 

*SUP 3: 111.745 Low Oct 11 

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

Schatz futures broke below the 111.955 level yesterday in early trading and the

subsequent recovery failed to overcome the 111.980, keeping the trend of lower

highs intact and the near-term focus on the downside. Bears now need to close

below yesterday's low at 111.945 to shift the near-term outlook negative and

open the 55-dma at 111.872. On the upside, a break above 111.980 would return

the focus to the upside and the Oct 26 high at 112.030.