Settling back in consolidation ahead of the strong resistance at the 149.40
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 150.75 | * | 50% Jul/Sep fall | S1 | 148.00 | * | congestion | |
R3 | 150.00 | * | figure | S2 | 147.21 | * | Sep high | |
R2 | 149.40 | ** | 15 Aug high | S3 | 146.00 | ** | congestion | |
R1 | 149.13 | * | 7 Oct high | S4 | 145.00 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Settling back in consolidation ahead of the strong resistance at the 149.40, mid-August corrective high. Pullback from the 149.13 high see pressure returning to the 148.00 level and clear break here will open up deeper pullback to the 147.21 support. Close below the latter will open up deeper pullback to the strong support at the 146.50/146.00 area which is expected to underpin. Would take break of the latter to return focus to the downside and open up losses to the 145.00/144.00 support. Meanwhile, resistance at the 149.13/149.40 highs now expected to cap.