Little change, as prices extend consolidation at the 95.60/95.50 support
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 97.70 | * | 50% 2024/2025 fall | S1 | 95.60 | * | May high | |
R3 | 97.40 | ** | 15 Jul high | S2 | 94.90 | ** | 4 Aug low | |
R2 | 97.00 | * | congestion | S3 | 94.00 | * | congestion | |
R1 | 96.85 | ** | 12 Aug high | S4 | 93.25 | * | 16 Jun low |
Asterisk denotes strength of level
06:35 GMT - Little change, as prices extend consolidation at the 95.60/95.50 support. Daily studies are unwinding overbought readings and see risk for break here to extend losses from 96.85 high of last week to retest tge 94.90 low. Below this will see deeper pullback to retrace the April/July rally and see room to the 94.00 congestion and 93.25 support. Meanwhile, resistance at the 96.85 high is expected to cap and sustain losses from the 97.40 July high and channel resistance off the August/April lows.