Still stretching with break above the 170.00 level on Friday reaching fresh high at 170.50
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 174.75 | ** | 25 Aug 1992 year high | S1 | 169.40/00 | * | congestion | |
R3 | 173.00 | * | 8 Sep 1992 high | S2 | 168.00 | * | congestion | |
R2 | 171.60 | ** | 29 Apr YTD high | S3 | 167.33 | * | 16 May low | |
R1 | 170.50 | * | 24 May high | S4 | 166.00 | congestion |
Asterisk denotes strength of level
00:45 GMT - Still stretching with break above the 170.00 level on Friday reaching fresh high at 170.50. While further gains cannot be ruled out, the April YTD high at 171.60 likely to remain out of reach as divergence on intraday studies and the deep overbought daily chart caution pullback. Meanwhile, support is raised to the 169.40/169.00 area which should now underpin. Break here is needed to return focus to the downside for retest of the strong support at the 168.00 level and 167.33 low of last week. Below these will open up the 167.00/166.00 congestion to retest.