Higher in range from the 15979 low as prices to consolidate steep drop from the 16280 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 16284 | ** | 19 Apr YTD high | S1 | 15979 | * | 6 May low | |
R3 | 16200 | congestion | S2 | 15964 | ** | 23 Oct 2023 year high | ||
R2 | 16139 | * | 24 Apr low | S3 | 15845 | * | Jan high, congestion | |
R1 | 16100 | * | 16 Apr low | S4 | 15774 | * | 5 Mar high |
Asterisk denotes strength of level
02:40 GMT - Higher in range from the 15979 low as prices to consolidate steep drop from the 16280 high. Bounce see prices unwinding the oversold intraday studies and see resistance at the 16100/16136 previous lows, expected to cap and sustain losses from the April high. Lower high sought to further pressure the downside later and break of the 15979 low and 15964 support will see room for deeper pullback to retrace the November/April rally. Break above the 16100/16139 resistance will see room for stronger bounce to the 16200 congestion then the 16284 high.