Consolidation following the test of congestion resistance at 98.00 has given way to steady selling interest
 Levels Imp Comment   Levels Imp Comment R4 99.00*congestion S1 97.00*congestionR3 98.50*congestion S2 96.00*congestionR2 98.00*congestion S3 95.55**27 Jan YTD lowR1 97.50**congestion S4 95.25**76.4% ret of 2021-2022 rally
Asterisk denotes strength of level
09:05 GMT – Consolidation following the test of congestion resistance at 98.00 has given way to steady selling interest, with prices currently trading around 97.35. Intraday studies are bearish, highlighting room for continuation down to congestion support at 97.00. But rising daily readings are expected to limit any initial tests in renewed consolidation, before mixed/negative weekly charts extend losses still further. Meanwhile, resistance is at congestion around 97.50. A close back above here, if seen, will help to stabilise price action and prompt consolidation beneath 98.00.