Little change, as prices extend consolidation above the 190.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 195.25/85 | ** | Aug/June 2015 year highs | S1 | 190.00 | * | congestion | |
R3 | 193.55 | ** | 20 Mar YTD high | S2 | 188.65 | * | Nov high | |
R2 | 193.00 | * | 10 Apr high | S3 | 188.00 | ** | Mar low, congestion | |
R1 | 192.00 | * | congestion | S4 | 186.75 | * | Aug high |
Asterisk denotes strength of level
06:30 GMT - Little change, as prices extend consolidation above the 190.00 level. Daily studies have turned down from overbought readings and suggest scope for break here to trigger deeper pullback to retrace strong rally from the 178.33, December low. Break will confirm a top in place at the 193.55 high and see room to the strong support at the 188.65/188.00 area. Lower still will see scope to the 186.75/186.00 support. Meanwhile, resistance is lowered to the 192.00 congestion and this now seen capping and sustaining losses from the 193.00 and 193.55 highs.