Little change, as prices extend consolidation below the 195.95, September corrective high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 199.48 | * | 30 Jul high | S1 | 193.50 | * | congestion | |
R3 | 198.00 | * | congestion | S2 | 192.00 | * | congestion, 4 Oct low | |
R2 | 197.40 | * | 61.8% Jul/Aug fall | S3 | 190.00 | ** | congestion | |
R1 | 195.95 | ** | Sep high | S4 | 188.00 | * | congestion |
Asterisk denotes strength of level
07:10 GMT - Little change, as prices extend consolidation below the 195.95, September corrective high. Daily studies have turned mixed an suggest the latter capping and giving way to pullback later to retrace gains from the 190.00 level. Below the 193.50 congestion will open up deeper pullback to the 192.00 congestion then the 190.00 level. Break of the latter will see scope to further retrace rally from the 184.00 low of September. Meanwhile, break of the September high at 195.95 resistance, if seen, will see open up further extension to 197.40, 61.8% Fibonacci level, and 98.00 level.