Little change, as prices settled into consolidation around the 37.00 level from the 37.18 high
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 37.63 | 27 Oct 2022 low | S1 | 36.90 | 17 Apr high | |||
R3 | 37.50 | * | congestion | S2 | 36.80 | * | congestion | |
R2 | 37.24 | ** | 4 Oct 2023 year high | S3 | 36.60 | congestion | ||
R1 | 37.18 | ** | 25 Apr YTD high | S4 | 36.50 | * | 22 Mar high |
Asterisk denotes strength of level
03:50 GMT - Little change, as prices settled into consolidation around the 37.00 level from the 37.18 high. However, overbought daily studies caution corrective pullback to the 36.80 congestion. Would take break here to open up deeper correction to the 36.60/36.50 congestion then the strong support at the 36.24/36.20 low and congestion area. Meanwhile, resistance at the 37.18 and 37.24 highs expected to cap. Would take break here to further extend gains from the January 2023 low and retrace the 2022/2023 losses.