No follow-through on break of the .6250 resistance as prices settled back in consolidation from test of the .6269 high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6330 | * | 2 Jan YTD high | S1 | .6200 | * | congestion | |
R3 | .6300 | ** | 29 Aug high | S2 | .6170 | * | 4 Sep low | |
R2 | .6269 | * | 19 Sep high | S3 | .6150 | * | congestion | |
R1 | .6250 | * | congestion | S4 | .6130 | * | 38.2% Aug rally |
Asterisk denotes strength of level
00:20 GMT - No follow-through on break of the .6250 resistance as prices settled back in consolidation from test of the .6269 high. However, bullish run-up from the .6106 low keeps pressure on the upside and see room for retest of the .6269 high. Clearance here will open the August high at the .6300 level to retest and see scope for extension to the .6370, December high. Meanwhile, support is at the .6200 level. Would take break here to open up deeper correction to the strong support at the .6150/.6130 area then the .6106/00 low and congestion area.