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$4.5B Taiwan Semiconductor Mfg 4Pt Launched

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  • RES 4: 172.48 High Sep 9
  • RES 3: 172.12 High Sep 14
  • RES 2: 171.96 High Sep 21 and key near-term resistance
  • RES 1: 170.81Low Sep 17 and recent breakout level
  • PRICE: 170.01 @ 10:44 BST Sep 27
  • SUP 1: 169.95 Intraday low
  • SUP 2: 169.90 1.236 proj of the Sep 9 - 17 - 21 price swing
  • SUP 3: 169.46 1.382 proj of the Sep 9 - 17 - 21 price swing
  • SUP 4: 168.29 Low May 19 (cont_)

Bund futures have resumed their downtrend with the contract trading below Friday's low of 170.14. This reinforces a bearish theme and maintains the price sequence of lower lows and lower highs signalling scope for further downside. The focus is on 169.90 next, a Fibonacci projection. Key short-term resistance has been defined at 171.96, Sep 21 high. A break above this level is required to ease bearish pressure.