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Recovery Needs To Break Key.....>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovery Needs To Break Key Stg0.8900-Stg0.8908 Resistance
*RES 4: Stg0.9037/40 Sep 13, 14 highs, 50% Fibo retrace
*RES 3: Stg0.8977/82 38.2% Stg0.9306-Stg0.8774, Sep 12 low
*RES 2: Stg0.8900/08 23.6% Fibo retrace, recovery high Sep 14
*RES 1: Stg0.8890 Hourly resistance
*PRICE: Stg0.8862 @0940GMT
*SUP 1: Stg0.8826/29 Intraday low, initial high Sep 15
*SUP 2: Stg0.8805 Hourly congestion highs Sep 15, Sep 18
*SUP 3: Stg0.8774/84 Sep 15 low, 2% volatility band
*SUP 4: Stg0.8743 Jul 14 low
*COMMENTARY* Managed to contain the fall at Stg0.8774 and as  a result became
oversold in the near term. The move above Stg0.8878 on Tuesday can now allow a
test to the key resistance area set between Stg0.8900-Stg0.8908. This the 23.6%
Fibo of the Stg0.9306-Stg0.8774 fall, as well as the recovery high on Sep 14.
Through here needed to inject real impetus to the recovery. Support from
Stg0.8829-Stg0.8805, loss of the latter would disappoint and caution now.

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