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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: 155.68 High Aug 25
  • RES 3: 155.14 High Aug 31
  • RES 2: 154.64 High Sep 22 / 23 and key near-term resistance
  • RES 1: 153.93 20-day EMA
  • PRICE: 152.77 @ Close Sep 27
  • SUP 1: 152.29 Low Sep 27
  • SUP 2: 152.16 61.8% retracement of the Jun 25 - Aug 5 rally (cont)
  • SUP 3: 151.93 Low Jul 8 (cont)
  • SUP 4: 151.32 76.4% retracement of the Jun 25 - Aug 5 rally (cont)

BTP futures trend conditions remain bearish. A price sequence of lower lows and lower highs that highlights a bearish theme is intact and Friday's move below 152.94, Sep 9 low, reinforces this condition. The contract traded lower again yesterday. The focus is on 152.66 next, Jul 15 low on the continuation chart. Key near-term resistance is at 154.64, Sep 23/24 high. A break of this hurdle is required to ease bearish pressure.