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SCHATZ Forecast: Has It Topped For The Week?

Published 05/27/2014, 02:18 AM
Updated 07/09/2023, 06:31 AM

SCHATZ Chart

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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