Higher through the 32.50 level as prices extend bounce from the pin bar low at 32.14
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 33.83 | * | 30 Aug low | S1 | 32.14 | ** | 30 Sep YTD low | |
R3 | 33.50 | * | congestion | S2 | 32.08 | ** | Feb 2022 year low | |
R2 | 33.00/15 | * | congestion, 16 Sep low | S3 | 32.00 | * | figure | |
R1 | 32.80 | * | 25 Sep high | S4 | 31.80 | * | congestion |
Asterisk denotes strength of level
03:15 GMT - Higher through the 32.50 level as prices extend bounce from the pin bar low at 32.14. Bounce see prices unwinding the deep oversold daily and weekly studies to correct steep September losses from the 34.34 high. Higher will see room to the 32.80 resistance then the 33.00/33.15 congestion area. Break above the latter, if seen, will open up room for stronger bounce to correct the broader losses from the 37.00 June high and see scope to the 33.50 resistance. Below the 32.14 low will see scope to retest the 32.08, 2022 year low.