Extending bounce from the 162.60/162.00 support to retest resistance at the 164.00/164.30 area
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 166.00 | * | congestion | S1 | 162.60 | * | 2 Apr low | |
R3 | 165.35 | ** | 20 Mar YTD high | S2 | 162.00 | * | congestion | |
R2 | 165.00 | figure | S3 | 161.00 | * | congestion | ||
R1 | 164.30 | * | Nov high | S4 | 160.21 | ** | Mar low |
Asterisk denotes strength of level
01:20 GMT - Extending bounce from the 162.60/162.00 support to retest resistance at the 164.00/164.30 area. Choppy trade suggest the 165.00 level and 165.35 high keeping out of reach. Would take break here to further extend gains within the bull channel from the December low. Meanwhile, support at the 162.60/162.00 congestion area now protecting the downside and break here is needed to confirm a top in place at the 164.00/35 highs and open up deeper pullback to retrace the stronger rally from the 153.12, December low. Break will see room to the 161.00 level then the 160.21, March low.