Turned up from the 7.2415 low as prices consolidate the drop from the 7.2830 high
Level | Imp | Comment | Level | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 7.3105 | * | 13 Nov high | S1 | 7.2340 | * | 14 Feb high | |
R3 | 7.3000 | * | congestion | S2 | 7.2200 | * | 28 Feb high | |
R2 | 7.2830 | ** | 16 Apr YTD high | S3 | 7.2000 | * | congestion | |
R1 | 7.2700 | * | congestion | S4 | 7.1810 | 21 Feb low |
06:00 GMT - Turned up from the 7.2415 low as prices consolidate the drop from the 7.2830 high. Bounce see resistance at the 7.2700 congestion expected to cap and lower high sought to further pressure the downside later. Choppy trade expected to give way to selling pressure later and break of the 7.2415 low and 7.2340 support will confirm a double top in place at the 7.2820/30 highs and and see room to the support at 7.2200 level. Lower still will see room for deeper then the 7.2000 congestive support. Break above the 7.2700 congestion, if seen, will expose the 7.2830 high to retest and further extend gains from the late-December low.