Break above resistance at the 214.00/40 congestion area see prices retracing the wide 30 April range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 220.00 | * | congestion | S1 | 213.00 | * | congestion | |
| R3 | 218.00 | * | congestion | S2 | 212.00 | * | congestion | |
| R2 | 216.00 | * | congestion | S3 | 211.20 | ** | 18 May low | |
| R1 | 215.00 | * | Feb high, congestion | S4 | 210.40 | ** | 30 Apr low |
Asterisk denotes strength of level
07:20 GMT – Break above resistance at the 214.00/40 congestion area see prices retracing the wide 30 April range. Higher will see room to the 215.00 February high where reaction is expected as intraday and daily extend into overbought areas. Clearance, if seen, will return focus to the 216.00 level and 216.60, 30 April high. Meanwhile, support is raised to 213.00/212.00 congestion area which should underpin. Would take break here to return focus to the downside for retest of the 211.20 and 210.40, 18 May and 30 April lows.
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