TECHS (U9): Monitoring threat posed by the.....>

BTPS: TECHS (U9): Monitoring threat posed by the bearish engulfing candle

*RES 4: 137.00 Round number resistance

*RES 3: 136.59 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: 133.51 @ Close June 24

*SUP 1: 133.50/41 Trendline support drawn off the May 31 low/Low Jun 20 and 21

*SUP 2: 132.10 Low Jun 18

*SUP 3: 131.45 Low Jun 14

*SUP 4: 130.50 Low Jun 12

U9BTPS remains in an uptrend. However, the candle pattern on Jun 20 is being

monitored closely. The selling pressure that unfolded on this day resulted in a

bearish engulfing. With momentum in overbought territory, this could develop

into a more significant bearish threat. Key trendline support intersects at

133.50 today and this highlights the importance of recent support at 133.41. A

trendline break and move below 133.41 would escalate the threat to bulls.