Turned up in consolidation from the 166.00/165.63 support as prices unwind oversold intraday studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 173.00 | * | 8 Sep 1992 high | S1 | 166.00 | * | congestion | |
R3 | 171.60 | ** | 29 Apr YTD high | S2 | 165.63 | * | 29 Apr low | |
R2 | 170.00 | * | figure | S3 | 165.35/00 | * | Mar high, congestion | |
R1 | 169.39 | * | 26 Apr high | S4 | 164.30 | ** | Nov 2023 year high |
Asterisk denotes strength of level
01:20 GMT - Turned up in consolidation from the 166.00/165.63 support as prices unwind oversold intraday studies. However, daily studies are unwinding deep overbought readings and suggest room for retest of the the 166.00/165.63 lows. Below this see strong support at 165.35/00 area expected to limit pullback. Would take break here to trigger deeper correction of the strong gains from 153.12, December low. Meanwhile, resistance at the 169.00 congestion and the 169.39 high of last week should limit bounce attempt.