Break of the 101.35 low of Monday see prices extending pullback from the 104.95, April YTD high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 105.40 | ** | Apr 2013 year high | S1 | 100.80 | * | 9 Apr high | |
R3 | 104.95 | ** | 29 Apr YTD high | S2 | 100.00 | * | congestion | |
R2 | 103.00/48 | * | congestion, 26 Apr high | S3 | 99.00 | * | Feb high | |
R1 | 102.00 | * | congestion | S4 | 98.60 | ** | Nov 2023 year high |
06:45 GMT - Break of the 101.35 low of Monday see prices extending pullback from the 104.95, April YTD high. Losses has since turned up from the 100.00 low as prices unwind oversold intraday studies. However, the downside still vulnerable and break here will see room for deeper pullback to retrace strong gains from the 93.70, December low. Lower will see room to the 99.00 level then the strong support at the 98.60, 2023 year high. Meanwhile, resistance is lowered to the 102.00 level and can be expected to cap and sustain losses from the 104.95 spike high.