Break above the 155.00 level extending gains to fresh 34-year high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 157.55 | * | 3 May 1990 low | S1 | 154.79 | 16 Apr high | ||
R3 | 156.20 | * | 19 Apr 1990 low | S2 | 154.00 | * | congestion | |
R2 | 155.80 | ** | Jun 1990 high | S3 | 153.00 | * | congestion | |
R1 | 155.60 | * | 9 Apr 1990 low | S4 | 152.60 | 12 Apr low |
Asterisk denotes strength of level
01:00 GMT - Break above the 155.00 level extending gains to fresh 34-year high with positive intraday studies suggesting scope to 155.60 resistance then 155.80, June 1990 high. However, deep overbought daily studies caution corrective pullback with support raised to 154.79 then the 154.00 level. Would take break of the latter to see room for deeper pullback to unwind the deep overbought daily and weekly studies. Lower will see room to correct strong run-up from the March low at 146.48 and see scope to the 153.00/152.60 area then the 152.00 level.