Extending consolidation at the 192.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 195.85 | ** | June 2015 year high | S1 | 191.30 | * | Feb high | |
R3 | 195.25 | * | Aug 2015 high | S2 | 190.00 | * | 12 Apr low, congestion | |
R2 | 193.55 | ** | 20 Mar YTD high | S3 | 188.65 | * | Nov high | |
R1 | 193.00 | * | 10 Apr high | S4 | 188.00 | ** | Mar low, congestion |
Asterisk denotes strength of level
07:00 GMT - Extending consolidation at the 192.00 level but recent highs at the 193.00 level and 193.55, March YTD high, keeping out of reach. Break here will further extend the underlying bull trend from the 2020 year low at the 124.00 level and shift focus to the 125.25/125.85, August 2015 and June 2015 multi-year high. Meanwhile, support is at 191.30 then the 190.00 level. These now underpin and break needed to confirm a top in place at the 193.55 high and see room for deeper correction of the December/April rally. Lower will see room to the 188.65/188.00 area.