Little change, as prices edged up from the 15979 low to consolidate steep drop from the 16280 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 16284 | ** | 19 Apr YTD high | S1 | 15964 | ** | 23 Oct 2023 year high | |
R3 | 16200 | congestion | S2 | 15845 | * | Jan high, congestion | ||
R2 | 16139 | * | 24 Apr low | S3 | 15774 | * | 5 Mar high | |
R1 | 16100 | * | 16 Apr low | S4 | 15700 | congestion |
Asterisk denotes strength of level
02:50 GMT - Little change, as prices edged up from the 15979 low to consolidate steep drop from the 16280 high. Bounce see prices unwinding the oversold intraday studies with resistance at the 16100/16136, previous lows, expected to cap and sustain losses from the April high. Lower high sought to further pressure the downside later and break of the 15979 low and 15964 support will see room for deeper pullback to retrace the November/April rally. Lower will see scope to the 15900 level then the 15845 and 15774, the January and 5 March highs.