Saw bounce from the 7.2415 low to retest the 7.2700 resistance
Level | Imp | Comment | Level | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 7.3105 | * | 13 Nov high | S1 | 7.2415 | * | 18 Apr low | |
R3 | 7.3000 | * | congestion | S2 | 7.2340 | * | 14 Feb high | |
R2 | 7.2830 | ** | 16 Apr YTD high | S3 | 7.2200 | * | 28 Feb high | |
R1 | 7.2740 | * | 24 Apr high | S4 | 7.2000 | * | congestion |
05:15 GMT - Saw bounce from the 7.2415 low to retest the 7.2700 resistance. Clear break here will expose the 7.2830 YTD high to retest and see scope to further extend gains from the late-December low. Higher will see scope to the 7.3000 congestion and 7.3105, 13 November high. However, gains are expected to give way to selling pressure later to retest the 7.2415 low and 7.2340 lows and where break will turn focus lower and see room to the 7.2200 level. Lower still, will see room to the strong support at the 7.2000 congestion.