Pressure remains on the upside to extend sharp rally to reach fresh all-time high at 84.3875
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 84.7800 | projection | S1 | 84.2550 | * | 7 Nov low | ||
R3 | 84.5000 | figure | S2 | 84.2000 | * | figure | ||
R2 | 84.4000 | figure | S3 | 84.1600 | * | 6 Nov low | ||
R1 | 84.3875 | * | intraday high | S4 | 84.0850 | ** | 28 Oct high |
Asterisk denotes strength of level
05:25 GMT - Pressure remains on the upside to extend sharp rally to reach fresh all-time high at 84.3875. Nearby see room for extension to target the 84.4000 figure. Higher still, if seen, will see potential to the 84.5000 figure but deep overbought daily studies caution corrective pullback. Meanwhile, support is raised to the 84.2550 higher low which should now underpin. Would take break here to ease the upside pressure and see room for pullback to the 84.2000 figure and 84.1600 support. This area now underpin and break here needed to fade the upside pressure and see room for deeper losses to the strong support at the 84.0850/83.9850, October and September highs.