Little change, as prices extend consolidation below the 15694 high
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
02:45 GMT - Little change, as prices extend consolidation below the 15694 high and unwind the overbought daily studies. The resulting flag pattern suggest scope for break higher to further retrace the June/September losses. Higher will see the 15747/15829 gap area attracting. Meanwhile, support starts at the 15600 level and break here needed to trigger deeper pullback to the 15500/15470 area, expected to underpin. Failure here turn focus lower and open up deeper pullback to the strong support at the 15360/15300 area.