Settling back in consolidation from the 15694 high as prices unwind overbought intraday studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15829 | * | 13 Aug low, gap | S1 | 15600 | * | congestion | |
R3 | 15772 | * | 50% Jun/Sep fall | S2 | 15470 | * | congestion | |
R2 | 15747 | * | 16 Aug high | S3 | 15360 | * | Nov 2023 low | |
R1 | 15694 | * | 7 Oct high | S4 | 15300 | * | Aug low |
Asterisk denotes strength of level
02:25 GMT - Settling back in consolidation from the 15694 high as prices unwind overbought intraday studies. The daily studies are also deep into overbought areas and caution pullback. Break of the 15600 level will see room for deeper pullback to the 15500/15470 area which should now underpin. Break here will see room for deeper pullback to the strong support at the 15360/15300 area. Meanwhile, break above 15694 high will see room for stronger gains to retrace the June/September losses and see scope to the 15747/15829 gap area.