Break above the .6250 resistance clears the way for retest of the .6300, August high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6370 | ** | 28 Dec high | S1 | .6200 | * | congestion | |
R3 | .6330 | * | 2 Jan YTD high | S2 | .6170 | * | 4 Sep low | |
R2 | .6300 | ** | 29 Aug high | S3 | .6150 | * | congestion | |
R1 | .6280 | * | 23 Sep high | S4 | .6130 | * | 38.2% Aug rally |
Asterisk denotes strength of level
00:25 GMT - Break above the .6250 resistance clears the way for retest of the .6300, August high. Overbought daily studies suggest paused here likely to consolidate run-up from the .6107 low though a later break will further extend the broader gains from the August YTD low at .5850. Clearance will see scope for retest of the January YTD high at .6330 then the .6370, December high. Meanwhile, support is rasied to the .6250/.6200 area. 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.