Higher in consolidation as prices extend choppy trade from the 210.40, 30 April low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 216.60 | ** | 30 Apr YTD high | S1 | 211.20 | * | 18 May low | |
| R3 | 216.00 | * | congestion | S2 | 210.40 | ** | 30 Apr low | |
| R2 | 215.00 | * | Feb high, congestion | S3 | 210.00 | * | congestion | |
| R1 | 214.00 | * | congestion | S4 | 209.60/00 | * | Jan low, congestion |
Asterisk denotes strength of level
07:10 GMT – Higher in consolidation as prices extend choppy trade from the 210.40, 30 April low. Consolidation is expected to give way to renewed selling pressure later to retest the 211.20 and 210.40, 18 May/30 April lows. Break of these will further extend losses from the 30 April TRD high at 216.60 and see room to 210.00 and 209.60/00 congestion. Lower still, will see potential for retest of the 208.00 congestion and 207.50, February current year low. Meanwhile, resistance at the 214.00 congestion is expected to cap and sustain losses from the April current year high.
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