Break above the 164.00 level has seen gains to approach the 165.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 167.50 | * | congestion | S1 | 164.00 | * | congestion | |
R3 | 166.00 | * | figure | S2 | 162.60 | * | 2 Apr low | |
R2 | 165.35 | ** | 20 Mar YTD high | S3 | 162.00 | * | congestion | |
R1 | 165.00/17 | * | figure, 9 Apr high | S4 | 161.00 | congestion |
Asterisk denotes strength of level
00:50 GMT - Break above the 164.00 level has seen gains to approach the 165.00 level. Would take break here to expose the March YTD high at 165.35 to retest. Clearance here will further extend gains from the December low and see room to the 166.00 level. However, mixed daily studies suggest further choppy trade likely below the 165.00/35 highs. Meanwhile, support is raised to the 164.00 level. Below here will open up the strong support at the 162.60/162.00 congestion area to retest. Break here is needed to confirm a top in place at the 165.00/35 highs and open up deeper pullback to retrace the strong rally from the 153.12, December low.