Consolidation below the 216.00 level has given way to rebound from the 214.50 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 222.00 | * | congestion | S1 | 215.00 | * | congestion | |
| R3 | 220.00 | * | congestion | S2 | 214.50/00 | * | congestion | |
| R2 | 217.50 | * | wedge top | S3 | 213.00 | * | congestion | |
| R1 | 216.60 | ** | 30 Apr YTD high | S4 | 212.40 | ** | Jun low |
Asterisk denotes strength of level
06:50 GMT – Consolidation below the 216.00 level has given way to rebound from the 214.50 support. Break above the 216.00 level see room for retest of the 216.60 April current year high and further extend gains within the wedge pattern from the February year low and see room to the wedge top at the 217.50/218.00 area. Meanwhile, support at the 214.50/214.00 congestion area should now underpin. Only below here will ease the upside pressure and see room for pullback to support the 213.00 level then the 212.40 June low.
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