Poised for retest of the 193.00 level then 193.55, March YTD high.
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 195.85 | ** | June 2015 year high | S1 | 192.00 | * | congestion | |
R3 | 195.25 | * | Aug 2015 high | S2 | 190.00 | * | 12 Apr low, congestion | |
R2 | 193.55 | ** | 20 Mar YTD high | S3 | 188.65 | * | Nov high | |
R1 | 193.00 | * | 10 Apr high | S4 | 188.00 | ** | Mar low, congestion |
Asterisk denotes strength of level
06:50 GMT - Bounce at the 190.00 level to regain the 192.00 level see pressure returning to the upside and see scope for retest of the 193.00 level then 193.55, March YTD high. Break here will further extend the underlying bull trend from the 2020 year low at the 124.00 level and shift focus to the 125.25/125.85, August 2015 and June 2015 multi-year high. Meanwhile, support is raised to the 192.00 level and should now underpin bullish outlook. Below here will expose the 190.00 low to retest. Break here will confirm a top in place at the 193.55 high and see room for deeper correction of the December/April rally to the strong support at the 188.65/188.00 area.