EU HEALTHCARE: Galderma Group (GALDSW): S&P Rating

• RES 4: 94.60 1.764proj of the Sep 3 - 11 - 26 price swing 
• RES 3: 94.24 1.618 proj of the Sep 3 - 11 - 26 price swing        
• RES 2: 94.00 Round number resistance 
• RES 1: 93.96 High Oct 28  
• PRICE: 93.37 @ Close Nov 3
• SUP 1: 93.15 Low Oct 27       
• SUP 2: 92.81 20-day EMA 
• SUP 3: 92.38 Low Oct 20
• SUP 4: 92.07 50-day EMA   

The trend structure in Gilt futures remains bullish. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. The next upside objective is 94.00. Clearance of this level would open 94.24, a Fibonacci projection. Note that the contract is overbought, a short-term pullback would allow this trend condition to unwind. Initial firm support to watch 92.81, the 20-day EMA.

• RES 4: 155.89 High Feb 3
• RES 3: 155.53 2.00% retracement of the Jan 10 - Apr 22 bear leg
• RES 2: 154.80 High Feb 12
• RES 1: 154.48 Intraday high
• PRICE: 153.64 @ 06:58 GMT Nov 4 
• SUP 1: 153.27 High Oct 10
• SUP 2: 152.06 20-day EMA   
• SUP 3: 150.28 50-day EMA  
• SUP 4: 149.38 Low Oct 17 

The trend condition in USDJPY remains bullish and the pair is trading closer to its recent trend highs. The break higher last week confirmed a resumption of the uptrend and note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend.Sights are on 154.80, the Feb 12 high. First important support to watch lies at 152.06, the 20-day EMA. A pullback would be considered corrective.

• RES 4: 7000.00 Psychological round number 
• RES 3: 6993.12 3.500 proj of the Aug 20 - 28 - Sep 2 price swing
• RES 2: 6974.04 3.382 proj of the Aug 20 - 28 - Sep 2 price swing 
• RES 1: 6953.75 High Oct 30 and the bull trigger  
• PRICE: 6818.75 @ 06:42 GMT Nov 4
• SUP 1: 6804.03 20-day EMA
• SUP 2: 6698.11 50-day EMA 
• SUP 3: 6571.25 Low Oct 17 
• SUP 4: 6540.25 Low Oct 10 and a key short-term support

The trend condition in S&P E-Minis is unchanged, it remains bullish and the latest pullback appears corrective. Attention is on support at the 20-day EMA, at 6804.03. A clear break of this level average would signal scope for a deeper retracement and expose the 50-day EMA at 6698.11 - a key pivot support. The bull trigger has been defined at 6953.75, the Oct 30 high. Clearance of this hurdle would confirm a resumption of the uptrend.