Struggling to clear the 36.80 resistance with gains unable to sustain break here
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 37.50 | * | congestion | S1 | 36.50 | congestion | ||
R3 | 37.24 | ** | 4 Oct 2023 year high | S2 | 36.30 | * | congestion | |
R2 | 37.00 | * | 10 Oct high, congestion | S3 | 36.20 | * | Feb high | |
R1 | 36.80 | * | congestion | S4 | 36.00 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Struggling to clear the 36.80 resistance with gains unable to sustain break here and suggest scope for pullback correct rally from the 35.29, March low. Divergence on daily studies caution pullback and below the 36.50 congestion will expose the 36.30/36.20 support to retest. Below here will confirm a top in place at the 36.80/36.87 highs and see room for deeper pullback to retrace strong gains from the 34.10, December low. Meanwhile, resistance at the 36.80/36.87 high now seen capping. Clearance will return focus to the 37.00 level then 37.24, 2023 year high.