Higher in range from the .6050/40 congestion and low of last week as prices unwind the oversold daily studies
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | .6250 | * | congestion | S1 | .6050/40 | ** | congestion, 16 Oct low | |
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 - Higher in range from the .6050/40 congestion and low of last week as prices unwind the oversold daily studies. However, limited gains keep bearish stucture intact below the .6106/20 resistance area. Would need to clear this to ease the downside pressure and open up stronger bounce to retrace steep drop from the September high. Higher will see scope to the .6150 congestion then the .6200 level. Meanwhile, support remains at the .6050/40 area. Failure here will extend the September losses and see room to the .6015/.6000 support.