BTP TECHS: (H6) Impulsive Bear Wave

• 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: 93.98 High Nov 4 and the bull trigger  
• PRICE: 93.21 @ Close Nov 7
• SUP 1: 92.98 20-day EMA      
• SUP 2: 92.38 Low Oct 20
• SUP 3: 92.26 50-day EMA 
• SUP 4: 91.82 High Sep 11   

The trend structure in Gilt futures remains bullish and a recent shallow correction reinforces this theme - for now. Note that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Support to watch lies at 92.98, the 20-day EMA. It has been pierced, a clear break of it would signal scope for a deeper correction and allow a recent overbought trend condition to unwind. The bull trigger is 93.98, the Nov 4 high. 

• MNI: NORWAY OCT CPI-ATE +0.6% M/M, +3.4% Y/Y
• NORWAY OCT CPI +0.3% M/M, +3.3% Y/Y

• 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 High Nov 4 and the bull trigger 
• PRICE: 154.04 @ 06:54 GMT Nov 10 
• SUP 1: 152.55 20-day EMA
• SUP 2: 151.54 Low Oct 29   
• SUP 3: 150.77 50-day EMA  
• SUP 4: 149.38 Low Oct 17 

The trend structure in USDJPY is unchanged, it remains bullish and the latest shallow pullback appears corrective. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. The bull trigger is 154.48, the Nov 4 high. A break of this level would confirm a resumption of the uptrend and open 154.80, the Feb 12 high. First important support to watch lies at 152.46, the 20-day EMA.