Turned up from the 162.60/162.00 support area to extend choppy trade below the 165.35, March multi-year high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 166.00 | * | congestion | S1 | 162.60 | * | 2 Apr low | |
R3 | 165.35 | ** | 20 Mar YTD high | S2 | 162.00 | * | congestion | |
R2 | 165.00 | figure | S3 | 161.00 | * | congestion | ||
R1 | 164.30 | * | Nov high | S4 | 160.21 | ** | Mar low |
Asterisk denotes strength of level
01:10 GMT - Turned up from the 162.60/162.00 support area to extend choppy trade below the 165.35, March multi-year high. Lower high sought to further pressure the downside later with resistance starting at the 164.30, November high. This is now expected to cap and see scope for deeper pullback from the 165.00/165.35 highs. Would take break of the 162.60/162.00 support later to confirm a top in place and open up deeper pullback to retrace the stronger rally from the 153.12, December low. Lower will see room to the 161.00 level then the 160.21, March low.