Further extending the bullish break of the 2023 year high at 1363.00 to reach the 1400.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1429.00 | * | Nov 2022 high | S1 | 1380.00 | * | congestion | |
R3 | 1420.00 | * | congestion | S2 | 1371.00 | * | 11 Apr high | |
R2 | 1410.00 | * | 26 Oct 2022 low | S3 | 1363.00 | ** | Oct 2023 year high | |
R1 | 1400.00 | ** | congestion | S4 | 1360.00 | * | congestion |
Asterisk denotes strength of level
02:25 GMT - Further extending the bullish break of the 2023 year high at 1363.00 to reach the 1400.00 level. The deep overbought intraday and daily studies suggest scope for reaction here but corrective pullback likely to be limited with support now at the 1380.00 level. Would take break to fade the upside pressure and see room for deeper correction. Meanwhile, break above the 1400.00 level will see room to extend gains to the 1410.00/1420.00 area. Beyond this, but not expected for now, will shift focus to the 1445.80, October 2022 year high.