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(H1) Finds Support at Last Week’s Low

BTP TECHS
  • RES 4: 154.00 Round number resistance
  • RES 3: 153.82 High Feb 12 and the bull trigger
  • RES 2: 152.89 High Dec 15
  • RES 1: 152.06 High Feb 17
  • PRICE: 150.55 @ Close Feb 24
  • SUP 1: 150.27 Low Feb 24
  • SUP 2: 150.00 Round number support
  • SUP 3: 149.57 Low Jan 22 and key support
  • SUP 4: 147.85 200-dma

BTP futures ebbed lower Wednesday, hitting new February lows of 150.27 and falling through the 100-dma in the process. This affirms the fragile outlook, which began on the break of 151.19, 61.8% of the Jan 22 - Feb 12 rally. The focus shifts to 149.57 key support, the Jan 22 low. Initial resistance is at 152.06, Feb 17 high.

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