Higher in consolidation from the 7.2415 low but bounce see resistance at the 7.2700 congestion expected to cap
Level | Imp | Comment | Level | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 7.3105 | * | 13 Nov high | S1 | 7.2340 | * | 14 Feb high | |
R3 | 7.3000 | * | congestion | S2 | 7.2200 | * | 28 Feb high | |
R2 | 7.2830 | ** | 16 Apr YTD high | S3 | 7.2000 | * | congestion | |
R1 | 7.2700 | * | congestion | S4 | 7.1810 | 21 Feb low |
05:15 GMT - Higher in consolidation from the 7.2415 low but bounce see resistance at the 7.2700 congestion expected to cap. Lower high sought to further pressure the downside later and break of the 7.2415 low and 7.2340 support will confirm a double top in place at the 7.2820/30 highs and see room extend losses to the 7.2200 level. lower still will see room to the strong support at the 7.2000 congestion. Meanwhile, break above the 7.2700 resistance, if seen, will expose the 7.2830 high to retest and see room to further extend gains from the late-December low.