Break above the 102.00 level further extending gains and see room to the 103.00 level and 61.8% Fibonacci level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 105.40 | ** | Apr 2013 year high | S1 | 102.00 | congestion | ||
R3 | 104.95 | ** | 29 Apr YTD high | S2 | 101.36 | 29 Apr low | ||
R2 | 103.48 | * | 26 Apr high | S3 | 100.80 | * | 9 Apr high | |
R1 | 103.00 | * | congestion, 61.8% | S4 | 100.00 | * | congestion |
07:00 GMT - Break above the 102.00 level further extending gains and see room to the 103.00 level and 61.8% Fibonacci level. Positive daily studies suggest scope for higher and clear break here will see scope to the 103.48 resistance. However, gains seen corrective and expected to give way to selling pressure later. Meanwhile, support is raised to the 102.00/101.36 area and break here needed to turn focus lower for retest of the 100.80 support and the 100.00 level. Break of the latter will further extend losses from the April YTD high at 104.95 and see room to the 99.00 level then the strong support at 98.60, the November 2023 year high.