Remains in consolidation below the 7.2740 high
Level | Imp | Comment | Level | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 7.3105 | * | 13 Nov high | S1 | 7.2500 | congestion | ||
R3 | 7.3000 | * | congestion | S2 | 7.2415 | * | 18 Apr low | |
R2 | 7.2830 | ** | 16 Apr YTD high | S3 | 7.2340 | * | 14 Feb high | |
R1 | 7.2740 | * | 24 Apr high | S4 | 7.220 | * | 28 Feb high |
04:00 GMT - Remains in consolidation below the 7.2740 high and break of the 7.2500 level needed to expose the 7.2415 low to retest. The latter and the 7.2340 low now protecting the downside and see break here needed to trigger deeper pullback to retrace the December/April rally. Lower will see room to the 7.2200/7.2000 support. Meanwhile, break above 7.2740 high will expose the 7.2830 YTD high to retest. Above the latter, will see scope to further extend gains from the late-December low and see scope to the 7.3000 congestion and 7.3105, 13 November high.