Turned up from the .6390 low as prices unwind the oversold intraday and daily studies
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 - Turned up from the .6390 low as prices unwind the oversold intraday and daily studies and consolidate recent steep drop from the .6645 high. Bounce from the .6390 low see resistance starting at the .6442, February low. Above here will open up stronger recovery to the strong resistance at the .6480/.6500 area, 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 see room to extend losses to the .6350/39 area. Below this will open up the .6300 level then .6270, 2023 year low.