Break above the 32.50/32.80 area see prices extending gains from the 32.14, pin bar low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 33.83 | * | 30 Aug low | S1 | 32.50 | * | congestion | |
R3 | 33.50 | * | congestion | S2 | 32.14 | ** | 30 Sep YTD low | |
R2 | 33.35 | * | 6 Sep low | S3 | 32.08 | ** | Feb 2022 year low | |
R1 | 33.00/15 | * | congestion, 16 Sep low | S4 | 32.00 | * | figure |
Asterisk denotes strength of level
03:05 GMT - Break above the 32.50/32.80 area see prices extending gains from the 32.14, pin bar low. Daily studies continues to track higher to unwind the deep oversold daily and weekly studies to correct steep September losses from the 34.34 high. Prices now pressuring the 33.00/33.15 congestion area and clearance here 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 and 33.83 resistance. Below the 33.00 level and support at the 32.50 congestion will return focus to the downside to retest the 32.14 low and 32.08, 2022 year low.