Still pressuring the upside to see spike to fresh high at 36.90
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 37.24 | ** | 4 Oct 2023 year high | S1 | 36.50 | congestion | ||
R3 | 37.00 | * | 10 Oct high, congestion | S2 | 36.30 | * | congestion | |
R2 | 36.90 | ** | 17 Apr YTD high | S3 | 36.20 | * | Feb high | |
R1 | 36.80 | * | congestion | S4 | 36.00 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Still pressuring the upside to see spike to fresh high at 36.90 though gains remains unable to sustain break of the 36.80 congestion. The overbought intraday and daily studies and bearish divergence on daily chart caution pullback and below the 36.50 congestion will see room for pullback to the 36.30/36.20 support. Break of the latter will confirm a top in place at the 36.80/36.90 highs and see room for deeper retracement of the strong gains from the 34.10, December low. Meanwhile, resistance at the 36.80/36.90 highs now seen capping.