Higher in consolidation and clear lift over the 83.4000 level clear the way for retest of the 83.5250 high
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.6500 | * | extension | S1 | 83.4000 | congestion | ||
R3 | 83.6000 | * | figure | S2 | 83.3450 | * | 3 May low | |
R2 | 83.5750 | ** | 19 Apr all-time high | S3 | 83.2650 | * | 24 Apr low | |
R1 | 83.5250 | * | 30 Apr high | S4 | 83.1560 | * | 10 Apr low |
Asterisk denotes strength of level
05:15 GMT - Higher in consolidation and clear lift over the 83.4000 level clear the way for retest of the 83.5250 high. Beyond this will expose the 83.5750 all-time high to retest though the overbought daily studies suggest this keeping out of reach and scope seen for pullback. Would take break of the 83.3450 low to open up support at the 83.2650 and 83.1560, 24 and 10 Apr lows to retest. Break of these will confirm a top in place at the 83.5750 high and see room for deeper pullback to retrace gains from the 82.6485 low of March.