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(H2) Approaching Support

BTP TECHS
  • RES 4: 152.71 1.00 proj of the Nov 1 - 22 - 24 price swing
  • RES 3: 151.45 0.764 proj of the Nov 1 - 22 - 24 price swing
  • RES 2: 151.00 Round number resistance
  • RES 1: 149.47/150.66 20-day EMA / High Dec 6 and the bull trigger
  • PRICE: 148.50 @ Close Dec 22
  • SUP 1: 148.25 Low Dec 1
  • SUP 2: 147.36 Low Nov 24 and key support
  • SUP 3: 146.55 76.4% retracement of the Nov 1 - 22 rally
  • SUP 4: 145.29 Low Nov 1 and the bear trigger

BTP futures remain heavy following the sell-off this week. The contract is approaching the next support at 148.25, Dec 1 low. A break would strengthen bearish conditions and pave the way for a move towards 147.36, the Nov 24 low and a key support. Key resistance is at 150.66, the Dec 6 high. A clear break of this hurdle is required to reinstate a bullish theme and open the 151.00 handle.

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