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SCHATZ TECHS: (Z9) Double top still a threat
*RES 4: 112.715 Contract high, Sep 3
*RES 3: 112.668 76.4% retracement of Sep 3 - Sep 6 decline
*RES 2: 112.660 High Sep 4
*RES 1: 112.655 High Sep 5
*PRICE: 112.550 @ 03:08 GMT Sep 9
*SUP 1: 112.515 Low Sep 6
*SUP 2: 112.470 Low Aug 7
*SUP 3: 112.412 50-day EMA
*SUP 4: 112.345 Double top projection
Z9 Schatz selling pressure last week resulted in prices probing key support
support at 112.530, the low of Aug 22 which also marks the midpoint of what
appears to be a double top. A break of Friday's 112.515 low would confirm a
clear breach of 112.530 and also the double top. This would set the scene for a
deeper pullback towards the 112.412 level which is close to where the 50-day EMA
intersects at 112.406. On the upside, initial resistance is at 112.655.