Settled back in consolidation from the 83.5250 high to leave the 83.5750 all-time high intact
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.6000 | * | figure | S1 | 83.2650 | * | 24 Apr low | |
R3 | 83.5750 | ** | 19 Apr all-time high | S2 | 83.2000 | congestion | ||
R2 | 83.5250 | * | 30 Apr high | S3 | 83.1560 | * | 10 Apr low | |
R1 | 83.4550 | * | 4 Apr high | S4 | 83.0450 | * | 21 Mar low |
Asterisk denotes strength of level
05:00 GMT - Settled back in consolidation from the 83.5250 high to leave the 83.5750 all-time high intact. Scope is seen for deeper pullback unwind overbought daily studies with support at the 83.2650 low of last week to watch. Would take break here to turn focus lower and expose the 83.1560 low of April to retest. Break here will confirm a top in place at the 83.5750 high and see deeper pullback to retrace gains from the 82.6485 low of March. Meanwhile, resistance is lowered to 83.4550 and this is expected to cap and sustain losses from the April high.