Turned up from support at the 194.00/193.55 congestion to consolidate sharp rejection from the 200.55 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 | 194.00 | * | congestion | |
R2 | 200.55 | ** | 29 Apr YTD high | S3 | 193.55 | * | Mar high | |
R1 | 197.92/00 | * | 26 Apr high, congestion | S4 | 193.00 | * | congestion |
Asterisk denotes strength of level
07:00 GMT - Turned up from support at the 194.00/193.55 congestion to consolidate sharp rejection from the 200.55 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 raised to the 196.00 level then the 194.00 congestion. Would take break of the latter to see room for deeper pullback to the strong support at the 193.55/193.00 area. Below this will see room to 191.30/190.00 area. Meanwhile, resistance at the 198.00 congestion now expected to cap and sustain rejection from the 200.55 high.