Saw break above the 198.00 level to reach the 200.00 figure before reversing from the 200.54 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 202.50 | * | 13 Aug 2008 low | S1 | 196.00 | congestion | ||
R3 | 201.80 | 21 Aug 2008 low | S2 | 194.50 | * | intraday low | ||
R2 | 200.54 | ** | Jun 2015 year high | S3 | 193.55 | * | Mar high | |
R1 | 197.92/00 | * | 26 Apr high, congestion | S4 | 193.00 | * | congestion |
Asterisk denotes strength of level
06:45 GMT - Saw break above the 198.00 level to reach the 200.00 figure before reversing from the 200.54 high. Pullback from the latter see prices unwinding the deep overbought daily studies and correcting the strong rally from the 178.33, December low. Meanwhile, support is at 196.00 intraday congestion then the 194.50 low. Would take break of the latter to see room for deeper pullback to the strong support at the 193.55/193.00 area. Lower still will see room to 191.30/190.00 area. Meanwhile, resistance is now at the 198.00 congestion, now expected to cap and sustain rejection from the 200.54 high.