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(Z9) Resumes Its Downtrend *RES 4:.....>

SCHATZ TECHS
SCHATZ TECHS: (Z9) Resumes Its Downtrend
*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: 112.060 Bear channel resistance drawn off Sep 3 high
*RES 1: 112.030 Yesterday's high
*PRICE: 111.955 @ 04:56 GMT Nov 8
*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: 111.615 Bear channel projection drawn off Sep 3 high
Z9 Schatz retains a bearish focus following this week's sell-off. The key
technical development has been the break of former support at 111.990, Oct 30
low. The breach has confirmed a resumption of the downtrend in place since Sep 3
and paves the way for weakness towards 111.815 next, a Fibonacci projection.
Resistance has been defined at yesterday's high of 112.030. Heavy for now!

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