Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 148.00 | * | figure | S1 | 145.63 | * | 12 Sep (m) high | |
R3 | 147.50 | * | congestion | S2 | 145.00 | congestion | ||
R2 | 146.75 | * | break level | S3 | 144.20 | ** | 38.2% ret of Sep-Oct rally | |
R1 | 146.00 | * | pivot | S4 | 144.00 | * | congestion |
Asterisk denotes strength of level
13:55 GMT - Anticipated losses are currently testing below the 145.63 monthly high of 12 September, as negative intraday studies keep short-term price action heavy. Daily readings are also extending lower, pointing to a further deterioration in sentiment and potential for further losses towards congestion around 145.00. However, mixed/positive weekly charts should limit any further slippage to the 144.20 Fibonacci retracement. Meanwhile, a break above the 146.00 pivot, if seen, should meet fresh selling interest towards the 146.75 break level.