Break above 37.10 high has seen gains to reach fresh high at 37.18
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 37.63 | 27 Oct 2022 low | S1 | 36.90 | 17 Apr high | |||
R3 | 37.50 | * | congestion | S2 | 36.80 | * | congestion | |
R2 | 37.24 | ** | 4 Oct 2023 year high | S3 | 36.60 | congestion | ||
R1 | 37.18 | ** | 25 Apr YTD high | S4 | 36.50 | * | 22 Mar high |
Asterisk denotes strength of level
02:40 GMT - Break above 37.10 high has seen gains to reach fresh high at 37.18. Beyond this will see scope for retest of the 37.24, October 2023 year high, where overbought intraday and daily studies suggest reaction here likely. Pullback see support starting at 36.90 then the 36.80 congestion. Would take break of these to open up deeper correction to the 36.60/36.50 congestion then the strong support at the 36.24/36.20 low and congestion area. Break above the 37.24 high, but not expected, will further extend gains from the January 2023 low to retrace the 2022/2023 losses.