Turning higher in consolidation above the 1350.00/1347.00 support
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1380.00 | * | congestion | S1 | 1350.00 | * | Jan high | |
R3 | 1370.00 | * | congestion | S2 | 1347.00 | * | 10 Apr low | |
R2 | 1367.00 | 24 Apr low | S3 | 1343.00 | * | Apr low | ||
R1 | 1363.00 | * | Oct high | S4 | 1335.00 | 26 Mar low |
Asterisk denotes strength of level
02:15 GMT - Turning higher in consolidation above the 1350.00/1347.00 support as prices unwind the oversold intraday studies to retrace steep drop from the 1388.00 high. Break above the 1363.00 resistance will see room for stronger gains to the strong resistance at the 1367.00/1370.00 area which is expected to cap and sustain losses from the 1400.00, Apr YTD high. Lower high sought to further pressure the downside later and break of the 1350.00/1347.00 support will see room for deeper pullback to retrace gains from the November/December lows. Lower will see scope to the 1343.00/1340.00 area and 1335.00 support.