Corrective pullback from the 1400.00 high held firm at the 1371.00 support
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1420.00 | * | congestion | S1 | 1371.00 | * | 11 Apr high | |
R3 | 1410.00 | * | 26 Oct 2022 low | S2 | 1363.00 | ** | Oct 2023 year high | |
R2 | 1400.00 | ** | 16 Apr YTD high | S3 | 1360.00 | * | congestion | |
R1 | 1390.00 | * | congestion | S4 | 1350.00 | * | Jan high |
Asterisk denotes strength of level
02:35 GMT - Corrective pullback from the 1400.00 high held firm at the 1371.00 support. Rebound here to regain the 1380.00 level see pressure returning to the 1390.00 congestion and clear break here will expose the 1400.00 high to retest. Clearance here, if seen, will further extend the bull trend from the February 2023 low and see room to the 1410.00/1420.00 congestion area. Meanwhile, support at the 1371.00 low now protecting the downside. However, daily studies remains overbought and break here will see room for deeper pullback to the strong support at the 1363.00/1360.00 area.