Higher in consolidation from the 100.00 level with bounce correcting losses from the 104.95 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 105.40 | ** | Apr 2013 year high | S1 | 100.80 | * | 9 Apr high | |
R3 | 104.95 | ** | 29 Apr YTD high | S2 | 100.00 | * | congestion | |
R2 | 103.00/48 | * | congestion, 26 Apr high | S3 | 99.00 | * | Feb high | |
R1 | 102.00 | * | congestion | S4 | 98.60 | ** | Nov 2023 year high |
06:25 GMT - Higher in consolidation from the 100.00 level with bounce correcting losses from the 104.95 high towards the 102.00 congestion. Break here will see room for stronger bounce to retest the 103.00/48 resistance. However, gains are seen corrective and expected to give way to selling pressure later. Lower high sought to further pressure the downside later and break of the 100.80/100.00 support will extend losses from the 104.95 high and see room to the 99.00 level. Lower still will see scope to the strong support at the 98.60, November 2023 year high.