Held firm above the 36.80 support with bounce keeping pressure on the upside to extend gains from the December low
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 37.80 | congestion | S1 | 37.00 | congestion | |||
R3 | 37.63 | 27 Oct 2022 low | S2 | 36.80 | * | congestion | ||
R2 | 37.50 | * | congestion | S3 | 36.60 | * | congestion | |
R1 | 37.24 | ** | 4 Oct 2023 year high | S4 | 36.50 | * | 22 Mar high |
Asterisk denotes strength of level
02:50 GMT - Held firm above the 36.80 support with bounce keeping pressure on the upside to extend gains from the December low. Focus now shift to the 37.24, October 2023 year high. The overbought intraday and daily studies suggest reaction likely at the latter. Break, if seen, will further extend gains to the 37.50 congestion. Meanwhile, support is raised to the 37.00 level then the 36.80 congestion. Would take break of the latter to open up deeper correction to the 36.60/36.50 congestion then the strong support at the 36.24/36.20 low and congesiton area.