Limited on break of the .6050 Fibonacci level as prices edged up from the .6040 low to consolidate losses from the September high
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6250 | * | congestion | S1 | .6050 | ** | 61.8% Jul/Sep rally | |
R3 | .6200/22 | ** | congestion, June high | S2 | .6015 | 15 Aug high | ||
R2 | .6150 | * | congestion | S3 | .6000 | * | figure, congestion | |
R1 | .6106 | * | Sep low | S4 | .5975 | * | 15 Aug low |
Asterisk denotes strength of level
00:30 GMT - Limited on break of the .6050 Fibonacci level as prices edged up from the .6040 low to consolidate losses from the September high. However, pressure remains on the downside and further losses not ruled out. Lower will see room for further losses to the .6015/.6000 area and .5975 support. Meanwhile, resistance remains at the .6106/20 area and regaining this needed to ease the downside pressure and see room for stronger corrective bounce to the .6150 congestion. Higher still will open up stronger bounce to .6200/22 resistance.