Little change, as prices extend consolidation below the 33.65 high of last week
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 34.10 | ** | Dec low | S1 | 33.11 | 14 Oct low | ||
R3 | 34.00 | * | 38.2% Jun/Sep fall | S2 | 33.00 | * | congestion | |
R2 | 33.83 | * | 30 Aug low | S3 | 32.50 | * | congestion | |
R1 | 33.65 | * | 8 Oct high | S4 | 32.14 | ** | 30 Sep YTD low |
Asterisk denotes strength of level
03:00 GMT - Little change, as prices extend consolidation below the 33.65 high of last week. Pullback see prices unwinding the overbought daily studies with support starting at the 33.11 low then the 33.00 congestion. Break here to return focus to the downside for retest of the 32.50 support then the 32.14, September YTD low. Meanwhile, resistance at the 33.65 high expected to cap. Close above here will further extend gains from the September low and see room to further retrace losses from the June high at the 37.00 level to the 33.83 and 34.10 resistance.