Turned up in consolidation from the 1350.00/1347.00 support as prices unwind the oversold intraday studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1380.00 | * | congestion | S1 | 1350.00 | * | Jan high | |
R3 | 1370.00 | * | congestion | S2 | 1347.00 | * | 10 Apr low | |
R2 | 1367.00 | 24 Apr low | S3 | 1343.00 | * | Apr low | ||
R1 | 1363.00 | * | Oct high | S4 | 1335.00 | 26 Mar low |
Asterisk denotes strength of level
02:30 GMT - Turned up in consolidation from the 1350.00/1347.00 support as prices unwind the oversold intraday studies following steep drop from the 1388.00 high. Bounce see resistance starting at 1363.00 then the 1367.00/1370.00 area which is expected to cap and sustain losses from the 1400.00, Apr YTD high. Consolidation expected to give way to fresh selling pressure later and break of the 1350.00/1347.00 support will see room to extend gains from the November/December lows. Break will open up deeper pullback to the 1343.00/1340.00 area and 1335.00 support.