Leaning lower in choppy trade from the 100.80 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 102.85 | ** | Nov 2014 year high | S1 | 99.00 | * | Feb high, congestion | |
R3 | 101.35 | * | Dec 2014 high | S2 | 98.60 | * | Nov high | |
R2 | 100.80 | * | 9 Apr YTD high | S3 | 98.17 | * | 28 Mar low | |
R1 | 100.00 | * | figure | S4 | 97.65 | * | Jun high |
06:20 GMT - Leaning lower in choppy trade from the 100.80 high and consolidation above the 99.00/98.60 support see scope for eventual break to trigger deeper pullback to retrace gains from the 93.70, December low. Daily studies are unwinding overbought readings and lower will see room to the support at 98.17 then the 97.65, June high. Below the latter will open up deeper pullback within the bull channel from the July low. Meanwhile, resistance at the 100.00 level expected to cap and extend losses from the 100.80 high. Clearance here, if seen, will further extend the bull trend from the 2020 year low and see room to 102.85, 2014 year high.