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(H1) Defying Gravity

BTP TECHS
  • RES 4: 152.15 150.0% retracement proj of the Nov 30 - Dec 1 sell-off
  • RES 3: 152.01 138.2% retracement proj of the Nov 30 - Dec 1 sell-off
  • RES 2: 151.83 123.6% retracement proj of the Nov 30 - Dec 1 sell-off
  • RES 1: 151.80 High Dec 9
  • PRICE: 151.76 @ Close Dec 9
  • SUP 1: 150.93 Low Dec 3
  • SUP 2: 150.31 Low Dec 1 and key short-term support
  • SUP 3: 150.00 Round number support
  • SUP 4: 149.79 1.382 proj of Nov 30 - Dec 1 sell-off from Dec 4 high

BTPS Tuesday cleared resistance at 151.54, Nov 30 high and price rallied again yesterday. The break higher confirms an end to the recent corrective cycle and the underlying uptrend has resumed. This has paved the way for strength towards 151.83 and 152.01, Fibonacci projections. Trend conditions remain positive and price maintains the sequence of higher highs and higher lows. Initial support lies at 150.93, Dec 3 low.

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