Pressure remains on the upside to extend gains from the 32.14, September YTD low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 34.62 | * | 22 Aug high | S1 | 33.15 | 16 Sep low | ||
R3 | 34.33 | * | 3 Sep high | S2 | 33.00 | * | congestion | |
R2 | 34.10 | ** | Dec low | S3 | 32.50 | * | congestion | |
R1 | 33.83 | * | 30 Aug low | S4 | 32.14 | ** | 30 Sep YTD low |
Asterisk denotes strength of level
02:50 GMT - Pressure remains on the upside to extend gains from the 32.14, September YTD low. Daily studies continues to track higher and break above 33.50 resistance see room for further gains to retrace the sharp September losses from the 34.34 high to the 33.83 resistance. Higher still, will see scope to the strong resistance at the 34.10, December low, which is expected to cap. Meanwhile, support is raised to the 33.15/33.00 area and this is now expected to underpin. Break here will return focus to the downside to retrace gains from the 32.14 low.