Technical forecast for Schatz

Schatz held support at 110.42/41 as expected but today’s outlook is more positive. We look for a move back above 110.46 for a test of resistance at 110.49. This should be a challenge & could mark the high for the day. However be ready to go with a break higher for a selling opportunity at 110.54/55.

Support at 110.42/41 should hold the downside but on a break lower look for 110.37/36. Failure here then risks a slide to good support at 110.29/28 for a buying opportunity.