Extending consolidation above the .6052, 61.8% Fibonacci retracement, as prices unwind the oversold intraday studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6250 | * | congestion | S1 | .6052/50 | ** | 61.8%, congestion | |
R3 | .6200/22 | ** | congestion, June high | S2 | .6015 | 15 Aug high | ||
R2 | .6150 | * | congestion | S3 | .6000 | * | figure, congestion | |
R1 | .6120 | 11 Oct high | S4 | .5975 | * | 15 Aug low |
Asterisk denotes strength of level
00:30 GMT - Extending consolidation above the .6052, 61.8% Fibonacci retracement, as prices unwind the oversold intraday studies. Daily studies are stretched as well and above the .6120 bounce high will see room for stronger gains to retrace the steep drop from .6380, September YTD high, to the .6150 congestion. Above here will open up stronger bounce to the .6200/22 resistance, which is expected to cap. Meanwhile, break of the .6052/.6050 support will open up room for continuation to the .6015 support and .6000 figure.