Turning higher from test of the strong support at the 99.00/98.60 previous highs
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 102.85 | ** | Nov 2014 year high | S1 | 99.00 | * | Feb high, congestion | |
R3 | 101.35 | * | Dec 2014 high | S2 | 98.60 | ** | Nov 2023 year high | |
R2 | 100.80 | * | 9 Apr YTD high | S3 | 98.20 | * | 28 Mar low | |
R1 | 100.00 | * | figure | S4 | 97.65 | * | Jun high |
06:45 GMT - Turning higher from test of the strong support at the 99.00/98.60 previous highs as prices unwind the oversold intraday studies. Daily studies are stretched as well and suggest scope for bounce to retest the 100.00 level. Regaining this will expose the YTD high at 100.80 to retest. Meanwhile, support remains at the 99.00/98.60 area and see break here needed to open up deeper pullback to retrace gains from the December low. Break of the latter will see room to the strong support at 97.65/97.00, June 2023 high and March low.