Higher in consolidation from approach of the 13 June year low at 32.31 as prices unwind oversold intraday studies
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 33.25 | * | congestion | S1 | 32.31 | ** | 13 Jun YTD low | |
R3 | 33.05 | ** | Apr low | S2 | 32.14 | ** | Sep 2024 year low | |
R2 | 32.80 | * | congestion | S3 | 32.08 | ** | Feb 2022 year low | |
R1 | 32.60 | * | congestion | S4 | 32.00 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Higher in consolidation from approach of the 13 June year low at 32.31 as prices unwind oversold intraday studies and consolidate losses from the 33.05 high of last week. Bearish price action keeps pressure on the downside and consolidation expected to meet with selling pressure later. Break of 32.31 low will extend the broader losses from the November high and shift focus to the 32.14/32.08, September 2024 and February 2022 year lows. Meanwhile, resistance is at the 32.60 congestion which is expected to cap. Clearance here will open up room for stronger bounce to resistance at 32.80.