BTP TECHS: (H6) Monitoring Resistance

• RES 4: 6993.12 3.500 proj of the Aug 20 - 28 - Sep 2 price swing
• RES 3: 6953.75 High Oct 30 and bull trigger 
• RES 2: 6900.50 High Nov 12 
• RES 1: 6804.35 20-day EMA  
• PRICE: 6780.75 @ 07:00 GMT Nov 17
• SUP 1: 6670.50 Low Nov 14  
• SUP 2: 6655.50 Low Nov 7 & key short-term support 
• SUP 3: 6571.25 Low Oct 17 
• SUP 4: 6540.25 Low Oct 10 and a key support 

The trend condition in S&P E-Minis remains bullish and the latest selloff appears corrective - for now. Support at the 50-day EMA, at 6730.32, has been pierced, however, price is once again trading above the average. The  next key support to watch is 6655.50, the Nov 7 low. Friday’s price pattern is a doji candle - a reversal signal. Initial firm resistance to watch is 6900.50, the Nov 12 high. A breach of this level would be bullish.

Sovereign rating reviews of note from after hours on Friday include: 

• Fitch upgraded Greece to BBB; Outlook Stable
• Fitch affirmed Slovakia at A-; Outlook Stable
• Moody's affirmed Portugal at A3; Outlook Stable
• S&P affirmed Cyprus at A-; Outlook changed to Positive
• S&P upgraded South Africa to BB; Outlook Positive
• Morningstar DBRS confirmed the United Kingdom at AA, Stable Trend
• Scope Ratings downgraded Belgium to A+; Outlook Stable

• RES 4: 156.75 High Jan 23 
• RES 3: 155.89 High Feb 3
• RES 2: 155.53 2.00 projection of the Sep 17 - 26 - Oct 1 price swing
• RES 1: 155.04 High Nov 12
• PRICE: 154.65 @ 07:03 GMT Nov 17
• SUP 1: 153.30 20-day EMA
• SUP 2: 152.82 Low Nov 7   
• SUP 3: 151.43 50-day EMA  
• SUP 4: 150.47 Low Oct 21 

USDJPY is holding on to the bulk of recent gains. A bullish trend structure remains intact. The pair has breached 154.48, the Nov 4 high and a bull trigger, confirming a resumption of the uptrend. Note that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 155.53, a Fibonacci projection. Initial support to watch is 153.30, the 20-day EMA.