Reached fresh high at 158.44 following break of the 155.80 resistance
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 160.25/40 | ** | April 1990 year high | S1 | 157.00 | figure | ||
R3 | 159.55 | * | 27 Apr 1990 high | S2 | 155.75 | * | 25 Apr high | |
R2 | 159.00 | * | 4 May 1990 high | S3 | 155.00 | * | congestion | |
R1 | 158.44 | ** | 29 Apr YTD high | S4 | 154.80 | * | 16 Apr high |
Asterisk denotes strength of level
01:00 GMT - Reached fresh high at 158.44 following break of the 155.80 resistance. Prices are now unwinding deep overbought daily studies but the further gains not ruled out after this consolidative phase. Higher still, if seen, will see scope to the 159.00/159.55 area. Beyond this will turn focus to the 160.25/40, the 1990 multi-year highs. Meanwhile, support is raised to the 157.50/00 congestion. Below this will open up deeper pullback to correct strong run-up from the 146.48 March low to the 155.75/155.00, previous highs turned support.