Pressure remains on the upside to reach the .5965 and clearance here will see room to further extend gains from the .5860 low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6083 | * | 10 Apr high | S1 | .5900 | figure | ||
R3 | .6050 | * | congestion | S2 | .5860 | ** | 17 Apr YTD low | |
R2 | .6000 | * | congestion | S3 | .5800 | * | congestion | |
R1 | .5965 | 10 Apr low | S4 | .5773 | ** | 26 Oct 2023 year low |
Asterisk denotes strength of level
00:30 GMT - Pressure remains on the upside to reach the .5965 and clearance here will see room to further extend gains from the .5860 low. Higher will see scope to the strong resistance at the .6000 level then the .6050 congestion area. However, gains are seen corrective within the falling channel from the late-December high and lower high sought to further pressure the downside later. Meanwhile, support is raised to the .5900 figure which now underpin. Break here will expose the .5860 low to retest and shift focus to the .5800 level then the .5773, 2023 year low.