Little change, after failure to sustain bounce above resistance at the .6442 low of February
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 0.6600 | congestion | S1 | 0.6390 | ** | 16 Apr YTD low | ||
R3 | 0.6550 | congestion | S2 | 0.6339 | * | 10 Nov low | ||
R2 | 0.6480/00 | * | 1 Apr low, congestion | S3 | 0.6300 | * | congestion | |
R1 | 0.6442 | * | Feb low | S4 | 0.6270 | ** | 26 Oct 2023 year low |
Asterisk denotes strength of level
00:10 GMT - Little change, after failure to sustain bounce above resistance at the .6442 low of February. However, room remains for stronger bounce as prices consolidate recent steep drop from the .6645 high. Clear break above the .6442 resistance will see room to the strong resistance at the .6480/.6500 area, which is expected to cap. Clearance, if seen, will fade the downside pressure and see room for stronger push higher. Meanwhile, clear break of the .6400 level will extend losses to the .6350/39 area. Below this will shift focus to the .6300 level then .6270, 2023 year low.