Extending gains from the 83.5260 low and break above the 83.4000 level and 83.4550 resistance see scope for retest of the 83.5250 high
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.6500 | * | extension | S1 | 83.4000 | congestion | ||
R3 | 83.6000 | * | figure | S2 | 83.3450 | * | 3 May low | |
R2 | 83.5750 | ** | 19 Apr all-time high | S3 | 83.2650 | * | 24 Apr low | |
R1 | 83.5250 | * | 30 Apr high | S4 | 83.1560 | * | 10 Apr low |
Asterisk denotes strength of level
05:05 GMT - Extending gains from the 83.5260 low and break above the 83.4000 level and 83.4550 resistance see scope for retest of the 83.5250 high. Beyond this will expose the 83.5750 all-time high to retest though the overbought daily studies suggest this keeping out of reach. Lower high sought to further pressure the downside later to the 83.3450 support. Below this will open up support at the 83.2650 and 83.1560, 24 and 10 Apr lows, to retest. Break of these needed to confirm a top in place at the 83.5750 high and see room for deeper pullback to retrace gains from the 82.6485 low of March.