Corrective pullback from the 15694 high has seen losses checked at the 15430 low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 15772 | * | 50% Jun/Sep fall | S1 | 15430 | * | 21 Oct low | |
R3 | 15747 | * | 16 Aug high | S2 | 15360 | ** | Nov 2023 low | |
R2 | 15694 | ** | 7 Oct high | S3 | 15300 | * | Aug low | |
R1 | 15600 | * | congestion | S4 | 15200 | * | congestion |
Asterisk denotes strength of level
03:20 GMT - Corrective pullback from the 15694 high has seen losses checked at the 15430 low as prices unwind the oversold daily studies. Sharp bounce see pressure returning to resistance at the 15560/15600 congestion. Break here will return focus to the 15694 high and see scope to extend the broader gains from the September low to retrace losses from the June YTD high. Higher will see the 15747/15829 gap area attracting. Meanwhile, the 15430 low now underpin. Would take break here to open up scope for deeper pullback to the 15360 and 15300 support.