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(Z9) Bearish Focus *RES 4: 112.105.....>

SCHATZ TECHS: (Z9) Bearish Focus
*RES 4: 112.105 High Oct 23/24
*RES 3: 112.080 High Oct 31 and Nov 1 and near-term upside trigger
*RES 2: 112.030 High Nov 6 and 7
*RES 1: 112.019 Bear channel resistance drawn off Sep 3 high
*PRICE: 111.990 @ 04:59 GMT Nov 13
*SUP 1: 111.940 Low Nov 7
*SUP 2: 111.815 1.000 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 3: 111.685 1.236 projection of Sep 3 - Sep 13 decline from Oct 3 high
*SUP 4: 111.574 Bear channel projection drawn off Sep 3 high
Z9 Schatz is correcting into the range of the bearish session of Nov 7. The
underlying downtrend remains intact following last week's sell-off. The break,
on Nov 7 of former support at 111.990, Oct 30 low confirmed a resumption of the
downtrend that has been in place since Sep 3 and paves the way for a move
towards 111.815 next, a Fibonacci projection. Bear channel resistance is at
112.019. Look for further weakness to unfold.

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