Extending choppy trade above the 193.50 support to retest the 195.95/196.00 congestion area
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 199.45 | * | 30 Jul high | S1 | 193.50 | * | congestion | |
R3 | 198.00 | * | congestion | S2 | 192.00 | * | congestion, 4 Oct low | |
R2 | 197.40 | * | 61.8% Jul/Aug fall | S3 | 190.00 | ** | congestion | |
R1 | 196.00 | * | congestion | S4 | 188.00 | * | congestion |
Asterisk denotes strength of level
06:35 GMT - Extending choppy trade above the 193.50 support to retest the 195.95/196.00 congestion area. Break here will further extend the broader gains from the August low to retrace the sharp drop from the July high to the 197.40, 61.8% Fibonacci level. Higher will see room to the 198.00 level. Meanwhile, support at the 194.00/193.50 congestion area underpin and sustain bullish run-up from the 184.00, September low. Would take break here to open up deeper pullback to the 192.00/190.00 congestion area.