Prices remain under pressure to extend pullback fromn the 33.65 high of last week
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 34.00 | * | 38.2% Jun/Sep fall | S1 | 33.00 | * | congestion | |
R3 | 33.83 | * | 30 Aug low | S2 | 32.80 | * | 25 Sep high | |
R2 | 33.65 | ** | 8 Oct high | S3 | 32.50 | * | congestion | |
R1 | 33.45 | * | 15 Oct high | S4 | 32.14 | ** | 30 Sep YTD low |
Asterisk denotes strength of level
03:00 GMT - Prices remain under pressure to extend pullback fromn the 33.65 high of last week and unwind the overbought daily studies. Nearby see support at the 33.00 congestion and break here to return focus to the downside for retest of the 32.80 support then the 32.50 congestion. Below the latter will expose the September YTD low at 32.14 to retest. Meanwhile, resistance is lowered to 33.45 then the 33.65 high, expected to cap. Close above here will further extend gains from the September low and see room to the 33.83 then the 34.00, Fibonacci level.