Turned up from the 155.00/154.51 support area as prices consolidate the sharp pullback from 160.20 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 160.25/40 | ** | April 1990 year high | S1 | 155.00 | * | congestion | |
R3 | 160.20 | ** | 29 Apr YTD high | S2 | 154.51 | * | 29 Apr low | |
R2 | 159.55 | intraday congestion | S3 | 154.00 | * | congestion | ||
R1 | 158.44 | * | 29 Apr high | S4 | 153.00 | * | congestion |
Asterisk denotes strength of level
00:50 GMT - Turned up from the 155.00/154.51 support area as prices consolidate the sharp pullback from 160.20 high. However, the long wick at the latter seen weighing as daily studies unwind deep overbought readings and suggest scope for further test of the 155.00/154.80 area and 154.51 low. Break of these will turn focus lower to retrace strong rally from the March low at 146.48. Lower will see rom to the 154.00/153.00 congestion. Meanwhile, resistance at the 158.00 level and 158.44 high of last week now expected to cap and sustain losses from the 160.20 high.