Consolidation at the 150.00 level has given way to renewed strength to retest resistance at the 150.90
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 152.65 | 30 Jul low | S1 | 150.00 | * | 14 Oct high | ||
R3 | 152.00 | ** | congestion | S2 | 148.85 | * | 15 Oct low | |
R2 | 151.90 | ** | Nov 2023 year high | S3 | 148.00 | * | congestion | |
R1 | 150.90 | * | Feb high | S4 | 147.35 | * | 8 Oct low |
Asterisk denotes strength of level
01:00 GMT - Consolidation at the 150.00 level has given way to renewed strength through the 150.32 high to retest resistance at the 150.90, February high. Daily studies remains positive but has pushed deep into overbought areas and caution corrective pullback. However, bullish structure keeps focus on the upside and clearance, if seen, will see room for extension to the 151.90/152.00 resistance. Meanwhile, support is raised to the 150.00 level. Below this will see room for deeper correction to the 149.00/148.85 area and the 148.00 level.