Leaning lower as the long wick at the 104.95 high weighs
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 | ** | 29 Apr YTD high | S3 | 100.80 | * | 9 Apr high | |
R1 | 103.00/48 | * | congestion, 26 Apr high | S4 | 100.00 | * | congestion |
06:45 GMT - Leaning lower as the long wick at the 104.95 high weighs and suggest scope for deeper pullback to retrace strong gains from the 97.77 low of 19 April. Pullback see support starting at the 102.00 level and 101.35. Break of these will see room to the strong support at the 100.80 previous high and the 100.00 congestion. Below these will see room for deeper pullback to the 98.60/98.00 area. Meanwhile, resistance at the 103.00/103.48 area now expected to cap and sustain losses from the 104.95 spike high.