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(U18) Recovering Ground *RES....>

AUSSIE 3-YEAR TECHS
AUSSIE 3-YEAR TECHS: (U18) Recovering Ground
*RES 4: 98.190 - 50% Fib 98.700-97.675 (Continuation Chart)
*RES 3: 98.110 - High Nov 30, 17 (Continuation Chart)
*RES 2: 98.092 - 61.8% 98.350-97.675
*RES 1: 98.050 - Intraday High Sep 3, Upper Bound Of Trend Channel
*PRICE: 97.995@ 15:47 GMT
*SUP 1: 97.961 - Bottom of 1-month trend channel
*SUP 2: 97.910 - 3-Month trendline support, top end of Jul-Aug range
*SUP 3: 97.820 - Low July 24
*SUP 4: 97.795 - High June 11/13 now support
The Sep-18 contract has recovered half the ground lost following its daily
reversal on Sep 3. The 98.05 high that day also represents the biggest obstacle
for M/T bulls, as resistance at the top of a multi-month trend channel. Major
support at 97.91 appears to have held, enabling a consolidation and potential
bounce higher. On a downside move, support comes in at the bottom of the current
trend channel at 97.961, with the longer-term uptrend at 97.910 below that.

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