Little change, as prices remains in consolidation above the 1371.00/1368.00 support
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1410.00 | * | 26 Oct 2022 low | S1 | 1368.00 | * | 24 Apr low | |
R3 | 1400.00 | ** | 16 Apr YTD high | S2 | 1363.00 | ** | Oct 2023 year high | |
R2 | 1393.00 | * | 19 Apr high | S3 | 1360.00 | * | congestion | |
R1 | 1380.00 | * | congestion | S4 | 1350.00 | * | Jan high |
Asterisk denotes strength of level
02:25 GMT - Little change, as prices remains in consolidation above the 1371.00/1368.00 support and congestion area. Mixed daily studies suggest further ranging action though this is expected to give way to fresh selling pressure later. Lower will see room to further retrace the March/April rally and see room to the strong support at the 1363.00/1360.00, previous highs. Would take break of the latter to open up deeper pullback to the support at 1350.00, January high. Meanwhile, resistance is lowered to the 1380.00/1393.00 congestion area and should now cap and sustain losses from the 1400.00 high.