FINANCIALS: NN Group (NNGRNV A-/A) CEO Change

• RES 4: 94.50 High Dec 16   
• RES 3: 93.64 High Dec 17  
• RES 2: 93.38/45 High Dec 18 / 20-day EMA 
• RES 1: 92.46/93.09 High Dec 12 / 21              
• PRICE: 92.12 @ Close Dec 30
• SUP 1: 91.64 Low Dec 19                        
• SUP 2: 91.58 4.382 proj of the Dec 3 - 4 - 5 minor price swing
• SUP 3: 91.45 4.500 proj of the Dec 3 - 4 - 5 minor price swing
• SUP 4: 91.33 4.618 proj of the Dec 3 - 4 - 5 minor price swing

A strong bearish theme in Gilt futures remains in play and Monday’s gains are considered corrective - for now. The recent breach of 91.87, the Dec 19 low, confirms a resumption of the downtrend. Sights are on 91.58 next, a 4.382 projection of the Dec 3 - 4 - 5 minor price swing. Initial firm resistance is at 93.09, the Dec 20 high. Resistance at the 20-day EMA, is at 93.45, and the average is seen as an important hurdle for bulls.

• RES 4: 166.69 High Oct 31 
• RES 3: 166.31 2.0% 10-dma envelope  
• RES 2: 166.10 High Nov 6
• RES 1: 165.04 High Nov 15 and a key short-term resistance
• PRICE: 163.08 @ 16:11 GMT Dec 30
• SUP 1: 162.82 Low Dec 30   
• SUP 2: 162.31/159.82 20-day EMA / Low Dec 18
• SUP 3: 158.67 Low Dec 11
• SUP 4: 157.87 Low Dec 09

EURJPY has pulled back from Monday’s high, but a bullish short-term  condition remains intact for now. Initial firm support lies at 162.31, the 20-day EMA. The cross has recently breached all the relevant Fibonacci retracement points of the bear leg between Oct 31 - Dec 3. A resumption of gains would open 165.04, the Nov 15 high. Clearance of this hurdle would open 166.69, the Oct 31 high and the next major resistance.

• RES 4: 123.34 High Dec 11 and key resistance     
• RES 3: 122.85 High Dec 12  
• RES 2: 121.94 High Dec 13  
• RES 1: 120.70/121.03 High Dec 20 / 20-day EMA   
• PRICE: 119.98 @ Close Dec 30 
• SUP 1: 119.41 Low Dec 27         
• SUP 2: 119.11 Low Nov 18   
• SUP 3: 118.80 76.4% retracement of the Nov 7 - Dec 11 bull cycle
• SUP 4: 118.51 Low Nov 8     

A corrective cycle in BTP futures has resulted in a pullback from its recent highs and last Friday’s sell-off highlights and extension of the current bear cycle.  The contract has recently breached the 20-day EMA and sights are on 118.80, a Fibonacci retracement point. Key resistance and the bull trigger has been defined at 123.34, the Dec 11 high. Initial firm resistance is seen at 121.03, the 20-day EMA.