Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 107.15 | ** | 50% ret of Sep-Jul fall | S1 | 105.00 | * | congestion | |
R3 | 106.00 | * | congestion | S2 | 104.42 | 11 Sep low | ||
R2 | 105.88 | ** | 8 Mar YTD high | S3 | 104.00 | ** | congestion | |
R1 | 105.40 | ** | 38.2% ret of Sep-Jul fall | S4 | 103.00 | * | congestion |
Asterisk denotes strength of level
13:30 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation following the test of strong resistance at the 105.40 Fibonacci retracement. A tick higher in daily stochastics suggests potential for a test of critical resistance at the 105.88 current year high of 8 March, but the flat daily Tension Indicator is expected to limit initial tests in consolidation, before positive weekly charts prompt a break. A close above 105.88 will turn sentiment outright positive and confirm continuation of July gains. Meanwhile, support is raised to congestion around 105.00. A close beneath here, if seen, will turn price action neutral and prompt consolidation above further congestion around 104.00.