Consolidating below the 84.0750 high but pressure remains on the upside
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 84.4900 | projection | S1 | 83.9850 | * | Sep high | ||
R3 | 84.2660 | projection | S2 | 83.9000 | * | congestion | ||
R2 | 84.1000 | figure | S3 | 83.8000 | * | congestion | ||
R1 | 84.0750 | ** | 14 Oct all-time high | S4 | 83.7550 | ** | 20 Aug low |
Asterisk denotes strength of level
05:00 GMT - Consolidating below the 84.0750 high but pressure remains on the upside and see scope for further gains. Higher will see room for extension to target the 84.1000 figure. Gains beyond this, if seen, will see projection target to 84.2660 and 84.4900 level. However, deep overbought daily studies caution corrective pullback with support now raised to the 84.0000/83.9850 area. Would take break here to fade the upside pressure and see room for deeper correction to the strong support at the 83.9000/83.8000 area.