Sharply higher to extend rally from the 19 April spike low to fresh year high at 101.35
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 105.40 | ** | Apr 2013 year high | S1 | 100.80 | 9 Apr high | ||
R3 | 103.85 | * | 15 Apr 2013 high | S2 | 100.00 | * | congestion | |
R2 | 102.85 | ** | Nov 2014 year high | S3 | 99.00 | * | congestion | |
R1 | 101.35 | * | Dec 2014 high | S4 | 98.60 | * | Nov high |
06:10 GMT - Sharply higher to extend rally from the 19 April spike low with break above the 100.80 reaching fresh year high at 101.35. Beyond this will see scope for retest of 102.85, the 2014 year high. Deep overbought intraday and daily studies suggest reaction here likely with corrective pullback to see support starting at 100.80 and the 100.00 congestion. Below the latter, if seen, will expose the strong support at 99.00/98.60 to retest. Break above the 102.85 resistance, if seen, will shift focus to the 2013 multi-year high at 105.40.