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(M3)‌‌ Trend Needle Points South

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(Z9) Bear flag *RES 4: 112.565 High....>

SCHATZ TECHS: (Z9) Bear flag
*RES 4: 112.565 High Sep 6 high
*RES 3: 112.520 High Sep 10 and 12
*RES 2: 112.381 Trendline resistance drawn off the Sep 3 high
*RES 1: 112.250 High Sep 17
*PRICE: 112.225 @ 03:42 GMT Sep 19
*SUP 1: 112.165 Low Sep 13
*SUP 2: 112.115 3.000 projection of Sep 6 - Sep11 decline from Sep 12 high
*SUP 3: 112.032 3.618 projection of Sep 6 - Sep11 decline from Sep 12 high
*SUP 4: 112.000 Round number support
Z9 Schatz maintains the current consolidative tone. This activity appears to be
developing into a bear flag, a continuation pattern that reinforces underlying
bearish theme, particularly following the recent steep slide Sep 12. Support at
the 2.618 projection of the Sep 6 - Sep 11 decline from Sep 12 high, at 112.167
is holding for now with only a brief test below it recently. A break of the
112.165 low of Sep 13 would open 112.167/032. Trend resistance is at 112.381.

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