Break above the 166.00 level has seen further extension to reach fresh year high at 167.09
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 169.97 | ** | July 2008 multi-year high | S1 | 166.00 | * | figure | |
R3 | 169.45 | * | 7 Aug 2008 high | S2 | 165.35/00 | * | Mar high, congestion | |
R2 | 168.00 | * | congestion | S3 | 164.30 | * | Nov high | |
R1 | 167.09 | * | 25 Apr YTD high | S4 | 163.70 | Feb high |
Asterisk denotes strength of level
01:15 GMT - Break above the 166.00 level has seen further extension to reach fresh year high at 167.09. Higher still will see scope to the 168.00 congestion though the deep overbought daily studies caution corrective pullback. Meanwhile, support is raised to the 166.00 level and below this needed to open up deeper correction to the strong support at the 165.35/165.00 area. This is expected to underpin and limit corrective pullback. Failure will open up deeper pullback to correct gains from the late-December low to support at the 164.30 and 163.70 highs of November/February.