RENEWABLES: UK Morning Wind Forecast

• Gilt calls, 91.45/91.50. 

These DO NOT take the CPI into account, given that Sonia is a tick up, small upside risk, but should be close.

• RES 4: 1.4019 38.2% retracement of the Feb 3 - Jun 16 bear leg 
• RES 3: 1.3925 High Aug 22 and the bull trigger
• RES 2: 1.3890 High Sep 11
• RES 1: 1.3803 20-day EMA 
• PRICE: 1.3751 @ 07:56 BST Sep 17
• SUP 1: 1.3727 Low Aug 29 and a bear trigger  
• SUP 2: 1.3709 61.8% retracement of the Jul 23 - Aug 22 bull cycle
• SUP 3: 1.3658 76.4% retracement of the Jul 23 - Aug 22 bull cycle 
• SUP 4: 1.3637 Low Jul 25  

A sharp sell-off in USDCAD this week has resulted in a break of the 20-and-50-day EMAs. This undermines a recent bullish theme and a continuation lower would expose key short-term support at 1.3727, the Aug 27 low. A break of this level would strengthen a bearish threat. For bulls, resistance levels to watch are; 1.3890, the Sep 11 high, and 1.3925, the Aug 22 high and bull trigger.

TYX5 112.50 puts paper paid 0-21 on 4K.