POLAND: Governor Glapiński To Discuss Details Of 'Polish SAFE 0%'

• RES 4: 6134.00 1.382 proj of the Nov 21 - Dec 12 - 18 price swing     
• RES 3: 6100.00 Round number resistance
• RES 2: 6086.00 High Feb 3 and the bull trigger
• RES 1: 6051.00 High Feb 9      
• PRICE: 6050.00 @ 08:12 GMT Feb 9
• SUP 1: 5870.81/5865.00 50-day EMA / Intraday low      
• SUP 2: 5838.00 Low Jan 20 and a bear trigger
• SUP 3: 5750.00 Low Dec 23 
• SUP 4: 5689.00 Low Dec 18    

The medium-term trend condition in EUROSTOXX 50 futures remains bullish and for now, the latest pullback appears corrective. Key support lies at the 50-day EMA at 5870.81. It has been pierced, a clear break of this average would undermine the bull theme and signal scope for a deeper retracement. The bull trigger is at 6086.00, the Jan 3 high. A move through this hurdle would resume the primary uptrend.

• RES 4: 121.87 2.000 proj of the Dec 10 - 17 - 22 price swing
• RES 3: 121.58 1.764 proj of the Dec 10 - 17 - 22 price swing
• RES 2: 121.37 High Nov 13
• RES 1: 121.30/31 High Feb 6 / Jan 30
• PRICE: 121.15 @ 08:10 GMT Feb 9
• SUP 1: 120.50 Trendline drawn from the Dec 10 low           
• SUP 2: 119.45 Low Dec 22 
• SUP 3: 119.13 Low Dec 10 and the bear trigger
• SUP 4: 118.00 Round number support 

A bullish theme in BTP futures remains intact and short-term pullbacks appear to have been corrective. Resistance to watch is 121.37, the Nov 13 high. Clearance of it would strengthen the bullish theme. On the downside, a reversal lower would expose 120.50, a short-term trendline support drawn from the Dec 10 low. Clearance of this trendline would be bearish and undermine the bull theme plus signal scope for a deeper retracement.                        

• RES 4: 92.95 High Jan and a key resistance
• RES 3: 92.51 High Jan 19     
• RES 2: 92.13 High Jan 22
• RES 1: 91.20 20-day EMA     
• PRICE: 90.53 @ 08:08 GMT Feb 9
• SUP 1: 89.88/86 Low Feb 6 / Low Nov 19 2025 and a key support    
• SUP 2: 89.73 1.382 proj of the Jan 14 - 20 - 22 price swing  
• SUP 3: 89.52 1.500 proj of the Jan 14 - 20 - 22 price swing   
• SUP 4: 89.06 1.764 proj of the Jan 14 - 20 - 22 price swing       

The short-term outlook in Gilt futures remains bearish. Yesterday’s fresh cycle low strengthens a bear theme and confirms a resumption of the current downtrend. The break lower resulted in a move through the 90.00 handle. Attention is on the next key support at 89.86, the Nov 19 2025 low. Clearance of this level would further strengthen the current downtrend. Initial key resistance is at 91.20, the 20-day EMA.