EQUITY OPTIONS: Large Estoxx Option last Night

• MNI: SWEDEN AUG SA UNEMPLOYMENT 8.8%

• MNI: UK AUG CPI +0.3% M/M, +3.8% Y/Y
• UK AUG CORE CPI +0.3% M/M, +3.6% Y/Y
• UK AUG RPI +0.4% M/M, +4.6% Y/Y
• UK AUG SERVICES CPI +0.2% M/M, +4.7% Y/Y

• RES 4: 92.30 High Aug 7
• RES 3: 92.06 High Aug 14      
• RES 2: 92.00 Round number resistance
• RES 1: 91.82 High Sep 11
• PRICE: 91.39 @ Close Sep 16
• SUP 1: 90.65 Low Sep 2
• SUP 2: 90.31/89.36 Low Sep 4 / 3
• SUP 3: 89.22 1.618 proj of the Aug 21 - 27 - 28 price swing 
• SUP 4: 89.00 Round number support   

A bull cycle in Gilt futures remains intact. A recent rally highlights a stronger corrective cycle and the contract is holding on to its gains. Note that the move higher is allowing an oversold trend condition to unwind. Price has breached initial firm resistance at 90.84, the Aug 28 and 29 high. A continuation higher would open 92.06, the Aug 14 high. On the downside, initial support lies at 90.65, the Sep 5 low.