(Z9) Testing Bear Channel Resistance...>

SCHATZ TECHS: (Z9) Testing Bear Channel Resistance

*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 and key intraday resistance

*RES 1: 112.005/010 Channel top drawn off the Sep 3 high / Intraday high

*PRICE: 112.005 @ 05:00 GMT Nov 14

*SUP 1: 111.960 Low Nov 11

*SUP 2: 111.940 Low Nov 7

*SUP 3: 111.815 1.000 projection of Sep 3 - Sep 13 decline from Oct 3 high

*SUP 4: 111.685 1.236 projection of Sep 3 - Sep 13 decline from Oct 3 high

Z9 Schatz is correcting into the range of the bearish session of Nov 7. The high

this day of 112.030 marks a key intraday resistance where a break is needed to

suggest scope for a stronger short-term recovery and open 112.080, Oct 31 and

Nov 1 high. Note too that price action is testing bear channel resistance at

112.005 today. Clearance of the Nov 7 high would also confirm a channel

breakout. Key support remains 111.940.