Still little change, as prices extend cautious trade beneath congestion resistance at 16.0000
 Level Comment  Level CommentR4 16.7000 break level S1 15.8035 12 Feb lowR3 16.5000 break level S2 15.6370**29 Jan YTD lowR2 16.1060**11 Aug 2022 (m) low S3 15.1665*June 2022 lowR1 16.0000**congestion S4 15.0000**congestion
Asterisk denotes strength of level
14:10 GMT – Still little change, as prices extend cautious trade beneath congestion resistance at 16.0000. Daily readings are mixed/positive, suggesting room for a test above here towards 16.1060. But negative weekly readings and bearish longer-term charts should limit any further gains in consolidation beneath 16.5000. Following cautious/corrective trade, fresh losses are looked for. Support is at the 15.8035 low of 12 February. But a close below critical support at the 15.6370 current year low of 29 January will add weight to sentiment and extend June 2023 losses initially towards the 15.1665 low of June 2022.