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TECHS (U9): Bearish engulfing candle line......>

BTPS
BTPS: TECHS (U9): Bearish engulfing candle line
*RES 4: 137.00 Round number resistance
*RES 3: 136.21 Bull channel top drawn off the May 31 low
*RES 2: 135.45 1.00 Fibo swing projection of May 31-Jun 7 rally off Jun 12 low
*RES 1: 135.13 U9 contract high June 20
*PRICE: 133.43 @ Close June 21
*SUP 1: 133.12 Trendline support drawn off the May 31 low
*SUP 2: 132.10 Low Jun 18
*SUP 3: 131.45 Low Jun 14
*SUP 4: 130.50 Low Jun 12
U9BTPS printed a fresh contract high on Jun 20. However this was followed by
selling pressure resulting in a bearish engulfing Japanese candle line on this
day. With momentum in overbought territory, this could develop into a more
significant bearish threat. Key trendline support intersects at 133.12 today and
marks an important level for bulls. A trendline break would add to the bearish
threat. For now however, while the trendline holds, bulls remain in charge.

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