SCHATZ: Struggling At Resistance
Jason Sen | May 30, 2014 02:10AM ET
The SCHATZ has struggled at strong resistance from the January/February/March highs at 110.66 all week as expected and as stated every day since Monday that a high for the week is possibly in place. So this is looking like it is playing out as predicted. But a break above the November highs at 110.67 would therefore continue the bull run and target 110.71/72. On a break higher we then look for 110.78/79.
Immediate support is at 110.625 but below there adds pressure for a test of good support at 110.60/59 which could hold the downside. Below there however, last week's low and 100 week moving average support at 110.57 is a buying opportunity.
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