Extending pullback from the 15694 high as prices unwind the overbought daily studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15772 | * | 50% Jun/Sep fall | S1 | 15470 | * | congestion | |
R3 | 15747 | * | 16 Aug high | S2 | 15400 | * | congestion | |
R2 | 15694 | ** | 7 Oct high | S3 | 15360 | ** | Nov 2023 low | |
R1 | 15600 | * | congestion | S4 | 15300 | * | Aug low |
Asterisk denotes strength of level
03:10 GMT - Extending pullback from the 15694 high as prices unwind the overbought daily studies. The break of 15600/15560 support see room for deeper pullback to the 15470 then the strong support at the 15400/15360 area. The latter expected to underpin and only break here will return focus to the downside through the 15300 support and lower. Meanwhile, resistance is lowered to 15600 congestion then the 15694 high, now expected to cap. Break here will further extend the September gains and see the gap area at 15747/15829 attracting.