Sharply lower to extend breakdown from the 4.7640/00 congestion to extend losses from the 4.7955, Apr high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 4.7975 | ** | 20 Feb YTD high | S1 | 4.7200 | * | congestion | |
R3 | 4.7955 | * | Apr high | S2 | 4.7000 | * | figure | |
R2 | 4.7835 | * | 25 Apr high | S3 | 4.6840 | 14 Mar low | ||
R1 | 4.7640 | 30 Apr low | S4 | 4.6750 | * | 12 Mar low |
05:20 GMT - Sharply lower to extend breakdown from the 4.7640/00 congestion to extend losses from the 4.7955, Apr high. Daily studies continues to weaken and suggest scope for break of the 4.7400/4.7360 support to extend losses to the 4.7200/4.7000 area and the 200-day MA. Below the latter will shift focus to the 4.6750, March low. Meanwhile, resistance is lowered to 4.7600/40 area and this is now expected to cap and sustain losses from the 4.7955 high.