MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

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USDA: CORN STOCKS 12,074M BSL ON JAN 1

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EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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TTF NATGAS TECHS: TTF GAS TECHS: (Z4) Bull Cycle Extends

TTF NATGAS TECHS
Commodities TechCommoditiesEnergy BulletsBulletPower BulletsEnergy Technical Analysis
  • RES 4: €52.64 - 1.50 proj of the Sep 19 - Oct 29 -  31 price swing 
  • RES 3: €51.49 - 1.382 proj of the Sep 19 - Oct 29 -  31 price swing 
  • RES 2:€50.00 - Psychological round number
  • RES 1: €48.36 - Intraday high                
  • PRICE: €48.11@ 13:10 GMT Nov 21
  • SUP 1: €43.57/41.82 - 20- and 50-day EMA values    
  • SUP 2: €38.03 - Low Oct 31 and key support
  • SUP 3: €36.68 - Low Sep 24  
  • SUP 4: €34.41 - Low Sep 19    

TTF Gas futures remain in an uptrend and the contract is trading higher again, today. The break  to a fresh cycle high confirms a resumption of the trend and ends the recent short period of consolidation. Moving average studies are in a bull-mode set-up, highlighting a dominant uptrend. Sights are on the psychological €50.00 handle. Initial firm support is seen at €43.57, the 20-day EMA.

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  • RES 4: €52.64 - 1.50 proj of the Sep 19 - Oct 29 -  31 price swing 
  • RES 3: €51.49 - 1.382 proj of the Sep 19 - Oct 29 -  31 price swing 
  • RES 2:€50.00 - Psychological round number
  • RES 1: €48.36 - Intraday high                
  • PRICE: €48.11@ 13:10 GMT Nov 21
  • SUP 1: €43.57/41.82 - 20- and 50-day EMA values    
  • SUP 2: €38.03 - Low Oct 31 and key support
  • SUP 3: €36.68 - Low Sep 24  
  • SUP 4: €34.41 - Low Sep 19    

TTF Gas futures remain in an uptrend and the contract is trading higher again, today. The break  to a fresh cycle high confirms a resumption of the trend and ends the recent short period of consolidation. Moving average studies are in a bull-mode set-up, highlighting a dominant uptrend. Sights are on the psychological €50.00 handle. Initial firm support is seen at €43.57, the 20-day EMA.