Extending bounce from the Friday's spike low at 97.77 to retest the 100.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 102.85 | ** | Nov 2014 year high | S1 | 99.00 | * | congestion | |
R3 | 101.35 | * | Dec 2014 high | S2 | 98.60 | * | Nov high | |
R2 | 100.80 | ** | 9 Apr YTD high | S3 | 98.00 | congestion | ||
R1 | 100.00 | * | figure | S4 | 97.65 | * | Jun high |
07:20 GMT - Extending bounce from the Friday's spike low at 97.77 to retest the 100.00 level. Clearance here will expose the 100.80 high to retest and see scope to extend the underlying bull trend from the 2020 year low. Break here will see room to the 101.35 resistance though focus will shift to the 102.85, 2014 year high. Meanwhile, support at the 99.00 and 98.60 underpin and seen protecting the downside. Only failure here will open up deeper pullback to the 98.00 level and 97.65 support . Lower will see room to the 97.00 level.