Pressure stays firmly on the downside with the 33.19 low at risk
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 34.10 | ** | Dec low | S1 | 32.90 | * | 20 Sep low | |
R3 | 33.83 | * | Aug low | S2 | 33.56 | ** | Jan 2023 year low | |
R2 | 33.50 | * | congestion | S3 | 32.50 | * | congestion | |
R1 | 33.15 | * | 16 Sep low | S4 | 32.40 | * | 3 Mar 2022 low |
Asterisk denotes strength of level
03:00 GMT - Pressure stays firmly on the downside with the 33.19 low at risk. Break here will see room for continuation lower to the strong support at the 33.56, January 2023 year low. Would expect reaction here to unwind the deep oversold daily studies. Corrective bounce see resistance starting at 33.15 and lift over this will open up stronger correction to the 33.50 resistance. Gains beyond this will see room for stronger bounce to resistance at 33.83 and extending to the key 34.10, December low and 2023/2024 double top trigger.