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(M2) Trend Condition Remains Bearish


Stagflation Worry Drives Futures Flatter

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Fresh 2017 Highs Lacking Follow....>

DOLLAR-IDR TECHS: Fresh 2017 Highs Lacking Follow Through
*RES 4: Idr13820 - High Feb 3 2016 
*RES 3: Idr13698 - High June 2 2016 
*RES 2: Idr13585 - 2016 High Dec 1 
*RES 1: Idr13550 - 2017 High Sept 28
*PRICE: Idr13510 @ 2300GMT
*SUP 1: Idr13485 - High Jan 3 now support 
*SUP 2: Idr13435 - High Sept 27 now support 
*SUP 3: Idr13415 - High May 19 now support 
*SUP 4: Idr13410 - High July 7 & 10 now support
*COMMENTARY: The recovery from 2017 lows has resulted in fresh 2017 and 10mth
highs with immediate bullish focus on Dec 2016 monthly highs. The move does look
a little overdone which increases the risk of a correction. Bears now look for a
close below Idr13485 to ease bullish pressure and hint at a correction back to
Idr13380-435. O/B daily studies and the Bollinger top (Idr13461) remain key
concerns for bulls.

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