Pressure remains on the downside as prices extend pullback from the 15694 high
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
03:20 GMT - Pressure remains on the downside as prices extend pullback from the 15694 high and unwind the overbought daily studies. Break of the 15470 support see room for deeper pullback to the strong support at the 15400 level then the 15360/15300 area. The latter is expected to underpin and only break here will return focus to the downside to the 15200 support and lower. Meanwhile, resistance is lowered to 15560/15600 area which is expected to cap and sustain pullback from the 15694 high. Break here will further extend the September gains and see the 15747/15829 gap attracting.