Little change, as prices extend consolidation just below the 83.9850, September 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 | 83.9740 | * | 4 Oct low | S4 | 83.6200/6000 | * | 27 Sep low, congestion |
Asterisk denotes strength of level
05:10 GMT - Little change, as prices extend consolidation just below the 83.9850, September all-time high. While the latter caps, scope is seen for corrective pullback to unwind the overbought intraday and daily studies. Break here, if seen, will extend the underlying bull trend to target the 84.0000 figure. Meanwhile, support is raised to the 83.8000 level and the 83.7550, 20 August low, which now underpin. Would take break here to fade the upside pressure and return focus to the downside to retrace the strong rally from the 83.4400, September low.