Pressure remains on the upside to extend gains from the 32.14, September YTD low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 34.33 | * | 3 Sep high | S1 | 33.00 | * | congestion | |
R3 | 34.10 | ** | Dec low | S2 | 32.50 | * | congestion | |
R2 | 33.83 | * | 30 Aug low | S3 | 32.14 | ** | 30 Sep YTD low | |
R1 | 33.50 | * | congestion | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:00 GMT - Pressure remains on the upside to extend gains from the 32.14, September YTD low. Break above the 33.35 resistance see scope to the 33.50 congestion. Daily studies continues to track higher to unwind the oversold daily and weekly studies and correct the September losses from the 34.34 high. Clearing the 33.50 congestion will see room for stronger bounce to correct the broader losses from the 37.00 June high and see scope to the 33.83 resistance then the 34.10, December low. Meanwhile, support is raised to the 33.00 level which now underpin and sustain gains from the 32.14 YTD low.