Back to pressure the 153.00 low after corrective bounce was checked at the 156.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 158.44 | * | 29 Apr high | S1 | 153.00 | * | 1 May low | |
R3 | 158.00 | * | 1 May high | S2 | 152.00 | ** | congestion | |
R2 | 156.00 | * | congestion | S3 | 150.88 | * | Feb high | |
R1 | 154.51/00 | * | congestion | S4 | 150.00 | * | figure |
Asterisk denotes strength of level
00:50 GMT - Back to pressure the 153.00 low after corrective bounce was checked at the 156.00 level. Negative daily studies suggest scope for break here to turn focus to the strong support at the 152.00 congestion and extending to 151.95/151.90, the 2022/2023 year highs. Break here will see room for deeper pullback to correct strong rally from the 140.25, late-December low. Meanwhile, resistance is lowered to the 154.51/155.00, Monday's low and congestion area. This is expected to cap and sustain losses from the 160.20 high.