Break of the 153.00 level saw extension to reach critical support at the 152.00/151.90 congestion and 2022/2023 year highs
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 158.44 | * | 29 Apr high | S1 | 152.00 | ** | congestion | |
R3 | 158.00 | * | 1 May high | S2 | 151.95/90 | * | 2022/2023 year highs | |
R2 | 156.00 | * | congestion | S3 | 150.88 | * | Feb high | |
R1 | 154.51/00 | * | congestion | S4 | 150.00 | * | figure |
Asterisk denotes strength of level
01:00 GMT - Break of the 153.00 level saw extension to reach critical support at the 152.00/151.90 congestion and 2022/2023 year highs. Bounce at the latter see prices unwinding the oversold intraday studies while the stretched daily chart suggest pause here to consolidate the steep drop from 160.20 high. Above the 154.00 level will see scope to resistance at 154.51 and extending to the 155.00 level. Lower high sought to further pressure the downside later and break of the 152.00 level will see room for deeper pullback to correct strong rally from the 140.25, late-December low.