Free Trial

TECHS: (Z9) Top heavy *RES 4: 146.65 1.618.....>

BTPS: TECHS: (Z9) Top heavy
*RES 4: 146.65 1.618 projection of Aug 19 - Aug 22 rally from Aug 30 low
*RES 3: 146.00 Round number resistance147.99
*RES 2: 145.94 Contract high Sep 4 and key resistance
*RES 1: 145.23 High Sep 6
*PRICE: 144.08 @ Close Sep 9
*SUP 1: 143.84 Low Sep 5 and key intraday support
*SUP 2: 143.71 Low Sep 2
*SUP 3: 143.20 Low Aug 30
*SUP 4: 142.30/37 Low Aug 28 / 20-day EMA
Selling pressure returned yesterday. The focus is on last week's candlestick
reversal signal. Thursday's close confirmed a 3-day pattern known as an evening
star, an early warning sign of a top. Prices also tested trendline support at
144.08 Thursday, drawn off the Aug 9 low. A move through 143.84 would confirm a
clear trendline break & reinforce the reversal threat. Key resistance is 145.94,
as long as this holds bearish pressure is likely to dominate near-term.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.