Break above the 146.00 level has seen extension to retest the 147.21, September high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 150.00 | * | figure | S1 | 146.00 | * | congestion | |
R3 | 149.40 | ** | 15 Aug high | S2 | 144.53 | * | 1 Oct high | |
R2 | 148.00 | * | congestion | S3 | 144.00 | * | congestion | |
R1 | 147.21 | * | Sep high | S4 | 143.00 | * | congestion |
Asterisk denotes strength of level
00:40 GMT - Break above the 146.00 level has seen extension to retest the 147.21, September high. Pause here see prices unwinding overbought intraday studies but bullish momentum on daily chart suggest scope for break here to open up stronger gains to the 148.00 congestion. Gains beyond this, if seen, will see room for possible extension to retest 149.40, mid-August corrective high. Meanwhile, support is raised to the 146.00 level. Break here needed to ease the upside pressure and see room for deeper pullback to the 144.53 support and 144.00 congestion.