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CHINA PRESS

China Repo Rates Fall on Thursday

CHINA PRESS

Evergrande Risks Can Be Controlled: PBOC

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  • RES 4: 4223.00 High Sep and the bull trigger
  • RES 3: 4213.77 2.0% 10-dma envelope
  • RES 2: 4184.00 High Sep 17
  • RES 1: 4102.50 High Sep 20
  • PRICE: 4031.00 @ 05:49 BST Sep 21
  • SUP 1: 3974.00 Low Sep20
  • SUP 2: 3962.50 76.4% retracement of the Jul 19 - Sep 6 rally
  • SUP 3: 3941.50 Low Jul 21
  • SUP 4: 3882.00 Low Jul 19 and a key support

EUROSTOXX 50 futures started the week on a soft. The contract yesterday cleared support at 4060.50, Aug 19 low strengthening a S/T bearish cycle and the recent reversal. This follows Friday's move below 4104.50, Sep 9 low that confirmed a bearish price sequence of lower lows and lower highs. Scope is seen for weakness towards 3962.00 next, a Fibonacci retracement. Initial resistance is seen at yesterday's high of 4102.50, Sep 20 high.