Choppy trade keeping pressure on the upside to retest the 165.00/17 resistance
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
01:10 GMT - Choppy trade keeping pressure on the upside to retest the 165.00/17 resistance. Would take break here to expose the March YTD high at 165.35 to retest. Clearance here will further extend the broader gains from the December low and see room to the 166.00 level. Meanwhile, support is raised to the 164.00 level then the strong support at the 162.60/162.00 congestion area. Would take break here 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.