Break above the 1350.00 resistance further extend the broader gains from the 1304.00, September low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1370.00 | ** | 12 Jul low | S1 | 1345.00 | * | 11 Oct low | |
R3 | 1366.00 | * | 15 Aug high | S2 | 1340.00 | * | 23 Sep high | |
R2 | 1364.00 | ** | 4 Oct 2023 year high | S3 | 1330.00 | * | congestion | |
R1 | 1360.00 | ** | 61.8% Apr/Sep fall | S4 | 1325.00 | 2 Oct high |
Asterisk denotes strength of level
02:45 GMT - Extending bounce from the 1340.00 support and clear break above the 1350.00 resistance further extend the broader gains from the 1304.00, September low. Higher will see room to the strong resistance area at 1360.00/1364.00, 61.8% Fibonacci retracement and October 2023 year high. Higher still, if seen, will see scope to 1366.00/1370.00 area. Meanwhile, support is raised to the 1350.00/1345.00 area then the 1340.00 congestion which now underpin. Break here will return focus to the downside to retrace strong gains from the 1304.00 low.