Level Comment Level CommentR4 16.6000 break level S1 16.0000**congestionR3 16.5000 break level S2 15.8035*12 Feb (w) lowR2 16.4275*6 Feb (w) high S3 15.6370**29 Jan YTD lowR1 16.2000 minor congestion S4 15.1665*June 2022 low
Asterisk denotes strength of level
14:45 GMT – Little change, as prices extend cautious trade following the test below congestion support at 16.0000. Daily readings are rising, highlighting room for a test of congestion resistance at 16.2000. But mixed weekly charts are expected to limit any immediate break in fresh consolidation beneath 16.5000. Meanwhile, support remains at 16.0000. However, any immediate tests beneath here should give way to consolidation above the 15.0835 weekly low of 12 February.