Saw sharp spike to reach 104.95 high before reversing just shy of the 105.40, 2013 year high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 107.20 | 7 Nov 2007 high | S1 | 102.00 | figure | |||
R3 | 105.40 | ** | Apr 2013 year high | S2 | 101.35 | * | 26 Apr low | |
R2 | 104.95 | ** | intraday high | S3 | 100.80 | * | 9 Apr high | |
R1 | 103.48 | * | 26 Apr high | S4 | 100.00 | * | congestion |
06:20 GMT - Saw sharp spike to reach 104.95 high before reversing just shy of the 105.40, 2013 year high. Pullback see prices unwinding the deep overbought intraday and daily studies and see support starting at the 102.00 level. Break here will see room for deeper correction of the sharp gains from the 93.70 low of December and see room to 101.35 then the strong support at the 100.80/100.00 area. Meanwhile, resistance is at the high of Friday 103.48 and the 104.00 level now expected to cap and see room for deeper corrective pullback.