Steadied at the 1472.00 support as prices consolidate sharp losses through the 1500.00 level
LevelsImpComment LevelsImpCommentR41518.00*23 Mar high S11472.00**Feb highR31510.00*congestion S21465.00*61.8% Feb/Mar rallyR21500.00**congestion S31460.00*congestionR11487.00*2024, 2025 year highs S41450.00 congestion
Asterisk denotes strength of level
02:40 GMT – Steadied at the 1472.00 support as prices consolidate sharp losses through the 1500.00 level and unwind oversold intraday studies. However, negative daily and weekly studies highlight risk for further losses later, lower will see room to further retrace the January/March gains and see extension to 1465.00, 61.8% Fibonacci retracement and 1460.00 congestion. Meanwhile, resistance is lowered to 1487.00, 2024 and 2025 year highs, which is expected to cap and sustain losses from the 1537.00 YTD high.