Leaning lower from the 87.3850 high as prices extend choppy trade within a 3-week range area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 87.9500 | ** | 10 Feb all-time high | S1 | 87.0000 | * | 4 Feb low | |
| R3 | 87.5825 | * | 6 Feb high | S2 | 86.8725 | ** | 7 Mar low | |
| R2 | 87.5300 | ** | 28 Feb high | S3 | 86.6525 | * | Jan high | |
| R1 | 87.3850 | * | 11 Mar high | S4 | 86.4600 | ** | 12 Feb low |
Asterisk denotes strength of level
05:35 GMT - Leaning lower from the 87.3850 high as prices extend choppy trade within a 3-week range area. Below the 87.0000 level will expose the 86.8725 low to retest. Break here will extend losses from the 87.5300 high and see room to retest the 86.6525 high of January then the critical 86.4600, February low. Below the latter will confirm a top in place at the February all-time high at 87.9500 and see deeper pullback to correct strong gains from the September low. Meanwhile, resistance at the 87.3850 and 87.5300 highs are expected to cap.