Extending gains with break above the 83.7550 resistance opening up stronger corrective gains from the 83.4400, September low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 83.9850 | ** | 5, 12 Sep all-time highs | S1 | 83.7550 | * | 20 Aug low | |
R3 | 83.9400 | * | 11 Sep low | S2 | 83.6650 | * | Jun high | |
R2 | 83.9150 | ** | 6 Sep low | S3 | 83.6200/6000 | * | 27 Sep low, congestion | |
R1 | 83.8250 | * | 30 Aug low | S4 | 83.5110 | * | 25 Sep low |
Asterisk denotes strength of level
05:35 GMT - Extending gains with break above the 83.7550 resistance opening up stronger corrective gains from the 83.4400, September low. Higher see room to the 83.8250 resistance then the strong resistance at the 83.9400 level. Gains are corrective and expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 83.7550 low of 20th August. Would take break here to return focus to the downside for retest of 83.6650/83.6000 area and 83.5110 low. Below the latter will extend losses from the 83.9850 all-time high.