Lower in consolidation from the 15694 high as prices unwind the overbought daily studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15829 | * | 13 Aug low, gap | S1 | 15560 | * | Feb low | |
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
03:10 GMT - Lower in consolidation from the 15694 high as prices unwind the overbought daily studies to reach support at the 15600/15560 congestion and February low. The resulting flag pattern suggest scope for a later break higher to further retrace the June/September losses. Higher will see the 15747/15829 gap area attracting. Meanwhile, support at the 15600/15560 area underpin. Break here needed to trigger deeper pullback to retrace rally from the 15070 low to the 15470 support and 15400/15360 area.