Up to tag the .6370 high of December but no follow-through and overbought intraday studies threatening corrective pullback
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6538 | ** | 2 Feb 2023 year high | S1 | .6300 | * | Aug high | |
R3 | .6450 | * | congestion | S2 | .6250 | * | congestion | |
R2 | .6412 | * | Jul 2023 high | S3 | .6222/00 | * | Jun high, congestion | |
R1 | .6370 | ** | Dec 2023 high | S4 | .6170 | * | 4 Sep low |
Asterisk denotes strength of level
00:25 GMT - Up to tag the .6370 high of December but no follow-through and overbought intraday studies threatening corrective pullback. However, bullish structure keeps pressure on the upside and clearance here will extend the broader gains from the October 2023 year low and turn focus to the July 2023 high at .6412. Daily studies remains at overbought areas and suggest consolidation at the .6400 level likely before further bull extension. Meanwhile, support is raised to the August high at the .6300/.6250 area, now expected to limit corrective pullback.