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(H2) Clears All Near-Term Retracement Levels

BTP TECHS
  • RES 4: 148.02 High Dec 29
  • RES 3: 147.39 High Jan 3
  • RES 2: 147.06 High Jan 31 and key near-term resistance
  • RES 1: 145.87 High Mar 1
  • PRICE: 145.10 @ Close Mar 1
  • SUP 1: 143.37/ 141.91 50-day EMA / Low Mar 1
  • SUP 2: 138.63/06 Low Feb 22 / 16 and the bear trigger
  • SUP 3: 137.52 Low May 18, 2020 (cont)
  • SUP 4: 136.86 Low May 13, 2020 (cont)

BTP futures are firm following yesterday’s strong gains as the contract extends the retracement of the most recent Jan 31 - Feb 16 downleg. Price has breached 144.94, the 76.4% retracement of the Jan 31 - Feb 16 downleg. This has opened 147.06 next, the Jan 31 high. A break would further strengthen the current bullish condition. Firm support is seen at yesterday’s low of 141.91.

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