Still pressuring the upper end of a wide bull channel from the July 2023 low to approach the 155.00 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 155.80 | ** | 25 Jun 1990 high | S1 | 154.00 | * | congestion | |
R3 | 155.15 | * | 13 Jun 1990 high | S2 | 153.00 | * | congestion | |
R2 | 155.00 | ** | figure | S3 | 152.60 | * | 12 Apr low | |
R1 | 154.87 | * | 23 Apr YTD high | S4 | 152.00 | ** | congestion |
Asterisk denotes strength of level
00:50 GMT - Still pressuring the upper end of a wide bull channel from the July 2023 low to approach the 155.00 level. Overbought intraday and daily studies still stretching and further gains not ruled out. Break above resistance at the 155.00/155.15 area will see potential for extension to the 155.80, June 1990 high. Meanwhile, support is at the 154.00 level and break here is needed to see room for deeper pullback to unwind the overbought daily studies. Break will see room to correct strong run-up from the March low at 146.48 and see scope to the 153.00/152.60 area then the 152.00 level.