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CHINA PRESS

Copy of China Repo Rates Fall on Wednesday

CHINA PRESS

Evergrande Risks Can Be Controlled: PBOC

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  • RES 4: 4334.22 2.0% 10-dma envelope
  • RES 3: 4223.00 High Sep and the bull trigger
  • RES 2: 4184.00 High Sep 17
  • RES 1: 4112.50 Low Sep 15
  • PRICE: 4057.00 @ 05:40 BST Sep 20
  • SUP 1: 4051.00 Intraday low
  • SUP 2: 4032.00 Low Jul 27
  • SUP 3: 4012.30 61.8% retracement of the Jul 19 - Sep 6 rally
  • SUP 4: 3962.50 76.4% retracement of the Jul 19 - Sep 6 rally

EUROSTOXX 50 futures have started the week on a soft. The contract has probed support at 4060.50, Aug 19 low strengthening a S/T bearish cycle. This follows Friday's move below 4104.50, Sep 9 low that confirmed a bearish price sequence of lower lows and lower highs on the daily chart. Scope is seen for weakness towards 4032.00, Jul 27 low and 4012.30, a Fibonacci retracement. Initial resistance is seen at 4112.50, the Sep 15 low.