Prices remains under pressure and break of the 15074 low see scope to target the 15055, 76.4% Fibonacci retracement
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15400 | * | congestion | S1 | 15055 | * | 76.4% 2023/2024 rally | |
R3 | 15360 | * | 6 Sep low | S2 | 15000 | * | figure | |
R2 | 15300 | * | Aug low | S3 | 14945 | * | 17 Jul 2023 low | |
R1 | 15200/205 | * | congestion, 23 Sep high | S4 | 14920 | * | 14 Jul 2023 low |
Asterisk denotes strength of level
03:15 GMT - Prices remains under pressure and break of the 15074 low see scope to target the 15055, 76.4% Fibonacci retracement. Lower still, will extend the broader losses from the June YTD high at 16474 and see room to the 15000 figure. However, the deep oversold daily studies caution corrective bounce. Meanwhile, resistance is lowered to the 15200/205 area. Regaining this will ease the downside pressure and see room for stronger correction to the 15300 level then the 15360/15400 congestion area.