Little change, as prices extend consolidation within the 212.00/214.00 range area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 216.60 | ** | 30 Apr YTD high | S1 | 212.00 | * | congestion | |
| R3 | 216.00 | * | congestion | S2 | 210.40 | * | 30 Apr low | |
| R2 | 215.00 | * | Feb high, congestion | S3 | 209.60 | ** | Jan low | |
| R1 | 214.00 | * | 17 Apr low | S4 | 208.00 | * | congestion |
Asterisk denotes strength of level
07:20 GMT – Little change, as prices extend consolidation within the 212.00/214.00 range area. Daily studies are mixed but consolidation here is expected to give way to renewed selling pressure later and see room for retest of 210.40 low. Below this will see room for extension to retest support at 209.60 then the 208.00 congestion and 207.50, February current year low. Meanwhile, resistance at the 214.00/215.00 congestion area is expected to cap. Clearance, will fade the downside pressure and return focus to the 216.60 April high.
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