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(Z9) Pointing south *RES 4: 135.90.....>

SCHATZ TECHS
SCHATZ TECHS: (Z9) Pointing south
*RES 4: 135.90 Contract high Sep 4
*RES 3: 134.79 High Sep 9
*RES 2: 134.12 High Sep 6
*RES 1: 133.19 High Sep 10
*PRICE: 132.58 @ Close Sep 10
*SUP 1: 132.40 Low Sep 10 and 50-day EMA
*SUP 2: 132.00 Round number support
*SUP 3: 131.90 0.618 projection of Sep 3 - Sep 5 decline from Sep 6 high
*SUP 4: 131.00 Round number support
Z9 Gilt selling pressure dominated again yesterday. This follows the sharp
rejection of Friday's bullish engulfing reversal. With this pattern negated, the
focus returns to the current downtrend. Prices have probed 132.44, the Sep 5 low
and continued weakness would see 131.90 attract, a Fibonacci projection level.
Note that prices have arrived at a key support area at 132.40, the 50-day EMA.
For now though, the outlook remains bearish while resistance at 134.12 holds.

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