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CHINA RATES

China Repo Rates Decline: Wind

CHINA PRESS

EU Should not Risk Invest Agreement: China Daily

JGB TECHS

(M1) Bullish Focus

AUSSIE 10-YEAR TECHS

(M1) New Multi-Month Highs

OIL TECHS
  • RES 4: $1.4000 - Round number resistance
  • RES 3: $1.3459 - High Mar 11
  • RES 2: $1.2995 - High Jul 21 and the bull trigger
  • RES 1: $1.2712 - High Jul 28
  • PRICE: $1.2264 @ 08:22 GMT Jul 31
  • SUP 1: $1.1724 - Low Jul 30
  • SUP 2: $1.1541 - Low Jun 29 and a key reversal trigger
  • SUP 3: $1.1027 - Low Jun 12
  • SUP 4: $1.0295 - Low May 29

HO futures traded sharply lower yesterday clearing support at $1.2145, Jul 20 low. The break of this support highlights a bearish threat. A move below $1.1724, yesterday's low would risk a deeper pullback and open $1.1541, low Jun 29 and also an important reversal trigger. On the upside, key resistance and the bull trigger is $1.2995, Jul 21 high. Clearance of this level is required to reinstate the underlying uptrend.