Extending bounce from the .6465 low and break above the .6550 congestion see room for retest of the .6586 high and the .6600 level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6668 | * | Mar high | S1 | 0.6500 | * | congestion | |
R3 | 0.6644/50 | * | Apr high, congestion | S2 | 0.6465 | * | 1 May low | |
R2 | 0.6600 | * | congestion | S3 | 0.6442 | * | Feb low | |
R1 | 0.6586 | * | 29 Apr high | S4 | 0.6400 | figure |
Asterisk denotes strength of level
00:10 GMT - Extending bounce from the .6465 low and break above the .6550 congestion see room for retest of the .6586 high and the .6600 level. Daily studies are strengthening and suggest scope for break of these to extend the broader gains from the .6362 low of April. Clearance will expose the strong resistance at the .6644 and .6668 highs to retest. Meanwhile, support is raised to the .6520/00 area and this should now underpin and limit corrective pullback. Failure will expose the .6465 low and .6442 support to retest.