Extending gains from the .5874 low and break above the .5950 congestion see room for retest of the .5985 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6083 | * | 10 Apr high | S1 | .5915 | 2 May low | ||
R3 | .6050 | * | congestion | S2 | .5874 | * | 1 May low | |
R2 | .6000 | * | congestion | S3 | .5852 | ** | 19 Apr YTD low | |
R1 | .5985 | * | 29 Apr high | S4 | .5800 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Extending gains from the .5874 low and break above the .5950 congestion see room for retest of the .5985 high. Clearance here will confirm a bottom pattern at the .5852 low and see room to extend gains within the bearish channel from the December high. Higher will see room to the .6000 level then the .6050 congestion. Meanwhile, support is raised to the .5915/00 area which should now protect the .5874/.5852 lows. Only failure here will open up the .5800 level then .5773, October 2023 year low to retest.