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EUROSTOXX50 TECHS

(Z1) Bearish Risk Remains Present

BTP TECHS

(Z1) Recovers Off Last Week's Low

SNAPSHOT

Stabilisation

GILT TECHS

(H2) Clears Resistance

SCHATZ TECHS

(Z1) Probes Resistance

BOBL TECHS

(Z1) Needle Pointing North

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  • RES 4: $1379.75/1423.00 - High Aug 17 / High Jul 1
  • RES 3: $1308.00/39.50 - High Sep 16 / High Aug 25
  • RES 2: $1297.00 - High Sep 27 and a key resistance
  • RES 1: $1262.50 - High Oct 8
  • PRICE: $1235.50 @ 13:44 BST Oct 21
  • SUP 1: $1184.00 - Low Mar 31, 2020
  • SUP 2: $1153.25 - 50.0% retracement of the Apr '20 - Jun '21 rally
  • SUP 3: $1135.75 - Low Feb 3
  • SUP 4: $1097.00 - Jan 25low

Soybean futures remain in a downtrend and recent gains appear corrective in nature. The contract has recently breached $1257.50, Sep 21 low, reinforcing bearish conditions. The subsequent follow through resulted in a break of $1240.50, Jun 17 low. This maintains the bearish sequence of lower lows and lower highs and moving average studies remain in a bear mode. Attention is on $1184.00, Mar 31 low. Firm resistance is at $1262.50.