Continuum Economics
Summary of Continuum Economics Article
The article analyzes price movements in a market, showing cautious trading under resistance at 101.00. Intraday studies and daily stochastics indicate downward pressure, suggesting a potential decline to support at 100.00. However, positive indicators, including the rising daily Tension Indicator and improving weekly charts, suggest that a break below 99.00 is unlikely, and renewed consolidation is expected.
Key levels are highlighted:
- Resistance: 101.00, 102.00/10, 102.10, 102.50
- Support: 100.00, 99.00, 98.00, 97.70
A close above 101.00 would provide stability, while a move above 102.00/10 is needed to turn sentiment positive and extend recent gains.
Little change, as prices extend cautious trade beneath resistance at 101.00
Asterisk denotes strength of level
10:45 BST - Little change, as prices extend cautious trade beneath resistance at 101.00. Intraday studies are turning down and daily stochastics are also under pressure, highlighting room for a move down to congestion support at 100.00. But the rising daily Tension Indicator and improving weekly charts are expected to limit any initial break in renewed consolidation above support at 99.00. Meanwhile, a close above 101.00 would help to stabilise price action. But a further close above 102.00/10 is needed to turn sentiment positive once again and extend April gains, initially to congestion around 102.50.
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