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GILT TECHS

(U1) Evening Star Reversal?

SCHATZ TECHS

(U1) Bullish Price Sequence Intact

CHINA RATES

Repo Rate Rise Takes Hiatus

BOBL TECHS

(U1) Holding Onto Its Gains

FOREX

Driven By Caution

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  • RES 4: 4265.00 High Jan 15, 2008
  • RES 3: 4200.00 Round number resistance
  • RES 2: 4175.00 Nov 26, 2008 low (cont)
  • RES 1: 4153.00 High Jun 17 and bull trigger
  • PRICE: 4112.50 @ 05:57 BST Jun 22
  • SUP 1: 4015.00 Low Jun 21
  • SUP 2: 3992.60 50-day EMA
  • SUP 3: 3999.00 Channel base from the Feb 26 low (cont)
  • SUP 4: 3871.00 Low May 13

EUROSTOXX 50 futures found support yesterday at the 4015.00 session low. Attention is on Friday's sell-off that in patterns terms is a bearish engulfing candle. This signals a potential top. Trend conditions are overbought and a corrective pullback would allow this set-up to unwind. A resumption of weakness would expose the 50-day EMA at 3992.60. Key resistance and the bull trigger is 4153.00, Jun 17 high. A break resumes the uptrend.