Gapped up at the open from the holiday break above the 16000 level to reach fresh high at the 16200 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 16625 | ** | 23 Mar 2020 year high | S1 | 16000 | * | figure | |
R3 | 16565 | * | 6 Apr 2020 high | S2 | 15964 | ** | 23 Oct 2023 year high | |
R2 | 16400 | * | congestion | S3 | 15844 | * | congestion | |
R1 | 16200 | * | 8 Apr 2020 low | S4 | 15774 | * | 5 Mar high |
Asterisk denotes strength of level
03:00 GMT - Gapped up at the open from the holiday break above the 16000 level to reach fresh high at the 16200 level. Higher still will see room to the 16400 congestion area from April 2020. Gains beyond this, if seen, will shift focus to 16625, the March 2020 multi-year high. However, deep overbought intraday and daily studies caution corrective pullback. Meanwhile, support is now raised to the 16000 level and below here needed to open up room for deeper pullback to the strong support at the 15964/15840 area.