Break above the 83.9150 resistance has seen extension to reach 83.9700 high and poised for retest of the 83.9850, all-time high
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 84.2000 | projection | S1 | 83.8000 | * | congestion | ||
R3 | 84.0000 | ** | figure | S2 | 83.7550 | ** | 20 Aug low | |
R2 | 83.9850 | ** | 5, 12 Sep all-time high | S3 | 83.6650 | * | Jun high | |
R1 | 83.9700 | * | 3 Oct low | S4 | 83.6200/6000 | * | 27 Sep low, congestion |
Asterisk denotes strength of level
05:00 GMT - Break above the 83.9150 resistance has seen extension to reach 83.9700 high and poised for retest of the 83.9850, all-time high. Would expect reaction here as daily studies are deep into overbought areas and caution corrective pullback. Clearance, if seen, will see extension of the underlying bull trend to target the 84.0000 figure. Meanwhile, support is raised to the 83.8000 level then the 83.7550, 20 August low. The latter now underpin and break here needed to fade the upside pressure and return focus to the downside and retrace rally from the 83.4400 low.