(Z9) Base Building? *RES 4: 112.165....>

SCHATZ TECHS: (Z9) Base Building?

*RES 4: 112.165 Low Sep 13 and former breakout point

*RES 3: 112.105 High Oct 23/24 and near-term upside trigger

*RES 2: 112.101 Bear channel resistance drawn off Sep 3 high

*RES 1: 112.080 High Oct 31 and Nov 1

*PRICE: 112.050 @ 04:50 GMT Nov 5

*SUP 1: 112.030 Low Nov 1

*SUP 2: 111.990 Low Oct 30

*SUP 3: 111.945 0.764 projection of Sep 3 - Sep 13 decline from Oct 3 high

*SUP 4: 111.815 1.000 projection of Sep 3 - Sep 13 decline from Oct 3 high

Z9 Schatz found support last week at 111.990. Attention has shifted to key

resistance at 112.105, Oct 23. If cleared, this would also confirm a breach of

the bear channel top at 112.101, drawn off Sep 3 and signal a reversal of the

recent downleg. A bullish break would likely have momentum in support, these

indicators are attempting to unwind an oversold condition. A failure to clear

112.105 and break of 111.990 would confirm a resumption of the downtrend.