Further extending the bullish break of the 165.35 March high and follow-through above the 166.00 level shift focus to the 2008 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 169.97 | ** | July 2008 multi-year high | S1 | 165.35/00 | * | Mar high, congestion | |
R3 | 169.45 | * | 7 Aug 2008 high | S2 | 164.30 | * | Nov high | |
R2 | 168.00 | * | congestion | S3 | 163.70 | * | Feb high | |
R1 | 166.85 | * | 5 Aug 2008 low | S4 | 163.00 | figure |
Asterisk denotes strength of level
01:15 GMT - Further extending the bullish break of the 165.35 March high and follow-through above the 166.00 level shift focus to the 2008 high. Nearby see room to 166.85, the 5 August 2008 low. Beyond this will, but not seen for now, will see scope to the 168.00 congestion. However, deep overbought daily studies caution corrective pullback with support now raised to the 165.35/165.00 area which now underpin immediate pullback. Would take break here to open up deeper correction to the strong support at the 164.30 and 163.70, Nov and Feb highs.