Sharply higher to extend rally from the 15070, September YTD low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15884 | * | 9 Aug low | S1 | 15470 | * | congestion | |
R3 | 15829 | * | 13 Aug low, gap | S2 | 15360 | * | Nov 2023 low | |
R2 | 15772 | * | 50% Jun/Sep fall | S3 | 15300 | * | Aug low | |
R1 | 15747 | * | 16 Aug high | S4 | 15200 | * | congestion |
Asterisk denotes strength of level
03:15 GMT - Sharply higher to extend rally from the 15070, September YTD low. Break above 15600 and 15654 resistance opens up stronger gains to retrace the steep June/September losses and see room to the 15772, 50% Fibonacci level and the 15747/15829 gap area. rom the 13th August low extend break above the 15300 and 15360 resistance to reach the 15529 high. Corrective gains are expected to give way to selling pressure later with support raised to the 15500/15470 congestion area. This now underpin and break here needed to return focus to the downside for retest of the strong support at the 15360/15300 area.