Pressure remains on the upside and break above strong resistance at the 1370.00 has reached 1374.00, 76.4% Fibonacci level
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1390.00 | * | congestion | S1 | 1360.00 | * | congestion | |
R3 | 1385.00 | * | congestion | S2 | 1355.00 | * | congestion | |
R2 | 1380.00 | * | Aug high | S3 | 1350.00 | ** | Jan high, congestion | |
R1 | 1374.00 | * | 76.4% Jun/Sep fall | S4 | 1340.00 | * | 23 Sep high |
Asterisk denotes strength of level
02:30 GMT - Pressure remains on the upside and break above strong resistance at the 1370.00 has reached 1374.00, 76.4% Fibonacci level. Higher still, if seen, will see room to retest the 1380.00, August high. However, the deep overbought intraday and daily studies caution corrective pullback with support now raised to the 1360.00 congestion. Would take break here to ease the upside pressure and see room for deeper pullback to retrace strong gains from the September low. Break will see room to the 1355.00/1350.00 congestion area.