POWER: Germany, Poland Cost Least Impacted on Carbon Due to Lower Gas Output

• -5,000 FVZ5 109-09.5, post time bid at 0939:35ET, DV01 $214,000.
• The 5Y contract trades 109-09.75 last (-2)

• 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: 6857.75/6953.75 High Nov 5 / High Oct 30 and the bull trigger  
• PRICE: 6822.25 @ 14:33 GMT Nov 10
• SUP 1: 6655.70 Low Nov 7 and key short-term support 
• SUP 2: 6571.25 Low Oct 17
• SUP 3: 6540.25 Low Oct 10 and a key support 
• SUP 4: 6476.62 23.6% retracement of the Apr 7 - Oct 30 bull cycle  

The trend condition in S&P E-Minis remains bullish and the pullback since the Oct 30 high appears corrective. The contract has managed to find support below the 50-day EMA, currently at 6710.28 and a key support. Friday’s activity also highlights a potential reversal signal - a bullish doji candle. This defines key support at 6655.50, the Oct 7 low. A continuation higher would signal the end of a correction and open 6953.75, Oct 30 high and bull trigger.

• We have published and e-mailed to subscribers the MNI US Employment Report covering a range of labor indicators for October in lieu of a second month of official data under the government shutdown.  
• However, an imminent end to the shutdown could mean we get September’s BLS nonfarm payrolls release within the next week. The BLS Secretary has said the report will be issued "as soon as this government opens”.
• See the full report here: https://media.marketnews.com/US_Shadow_Employment_Report_Nov_docx_cceb084370.pdf