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 | 15400 | * | congestion | |
R3 | 15747 | * | 16 Aug high | S2 | 15360 | ** | Nov 2023 low | |
R2 | 15694 | ** | 7 Oct high | S3 | 15300 | * | Aug low | |
R1 | 15560 | * | congestion | S4 | 15200 | * | congestion |
Asterisk denotes strength of level
03:10 GMT - Extending pullback from the 15694 high as prices unwind the overbought daily studies. Break of support at the 15600/15560 area 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 15560/15600 area 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.