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TECHS: (U9) Candles suggest a top *RES 4:......>

BTPS
BTPS: TECHS: (U9) Candles suggest a top
*RES 4: 142.00 Round number resistance
*RES 3: 141.82 1.618 projection of the May 15-May 27 rally from the Jul 10 low
*RES 2: 141.12 1.382 projection of the May 15-May 27 rally from the Jul 10 low
*RES 1: 140.24 Contract high, Jul 18
*PRICE: 138.42 @ Close Jul 22
*SUP 1: 138.35 Low Jul 22
*SUP 2: 137.37 Low Jul 12
*SUP 3: 137.12/03 Low Jul 3 / Low Jul 10
*SUP 4: 136.88 High Jul 2 and gap low
U9 BTPS has failed to follow through on Thursday's contract high. Japanese
candle patterns are highlighting a near-term bearish outlook. An inverted hammer
formation on Jul 18 followed by a bearish engulfing reversal on Friday, suggests
a top has been put in place. Note too that the trendline support drawn off the
May 31 low was breached yesterday at 138.75 adding to this developing bearish
theme. Prices need to break above 140.24 to offset the bearish threat.

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