Extending consolidation above the 15070 low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15400 | * | congestion | S1 | 15070 | * | 25 Sep low | |
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 | 14900 | * | congestion |
Asterisk denotes strength of level
03:05 GMT - Extending consolidation above the 15070 low as prices unwind oversold intraday studies. However, pressure remains on the downside and see scope for break to target 15000. Lower still, will extend the broader losses from the June YTD high at 16474 and see room to the 14945 support then the 14900 congestion. Meanwhile, resistance remains at the 15200/205 area. Would need to regain this to ease the downside pressure and see room for stronger bounce to the 15300 level then the 15360/15400 congestion area.