SCHATZ Forecast: Has It Topped For The Week?
Jason Sen | May 27, 2014 02:18AM ET
SCHATZ continued higher running in to strong resistance from January/February/March highs at 110.66. We did struggle as expected and a high for the week is possible. A break above the November highs at 110.67 would therefore be required to continue the bull run and target 110.71/72. On a break higher however, we could target 110.78/79.
A fall below 110.625 adds pressure for a test of good support at 110.60/59 which could hold the downside. Below here however, last week's low and 100 week moving average support at 110.57 is a buying opportunity.
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