Free Trial

TECHS: (Z9) Trendline support cleared *RES.....>

BTPS: TECHS: (Z9) Trendline support cleared
*RES 4: 146.00 Round number resistance147.99
*RES 3: 145.94 Contract high Sep 4 and key resistance
*RES 2: 145.23 High Sep 6
*RES 1: 144.63 High Sep 10
*PRICE: 143.34 @ Close Sep 10
*SUP 1: 143.20 Low Aug 30 and Low Sep 10
*SUP 2: 142.46/30 20-day EMA / Low Aug 28
*SUP 3: 141.14 Low Aug 27
*SUP 4: 140.00 Round number support
Z9 BTPS selling pressure dominated again yesterday. The current move lower
follows 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
have since also cleared trendline support drawn off the Aug 9 low. The move
yesterday through 143.84 provides further bearish evidence and the focus is on a
move towards 142.30 next, Aug 28 low. 145.23 marks resistance.

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.