Break of the 154.51 low of Monday further extend losses from the 160.20 high to reach the 153.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 160.20 | ** | 29 Apr YTD high | S1 | 154.51 | * | 29 Apr low | |
R3 | 158.44 | * | 29 Apr high | S2 | 153.00 | * | 1 Mar low | |
R2 | 158.00 | * | 1 May high | S3 | 152.00 | ** | congestion | |
R1 | 156.00 | congestion | S4 | 150.88 | * | Feb high |
Asterisk denotes strength of level
01:00 GMT - Break of the 154.51 low of Monday further extend losses from the 160.20 high to reach the 153.00 level. Bounce from the latter see prices consolidating sharp the rejection from the 158.00/44 resistance and see resistance now at the 156.00 congestion then the 158.00 level. Lower high sought to further pressure the downside later and break of the 154.51 and 153.00 low will see room for deeper pullback from the 160.20 high. Break will see room to the strong support at the 152.00 level and the 2022 and 2023 year highs at 151.94/151.91. Break here will further retrace the strong December/April rally.