(H2) Clears The 20-Day EMA

• RES 4: 144.94 76.4% retracement of the Jan 31 - Feb 16 downleg
• RES 3: 144.54 Low Jan 27
• RES 2: 143.37 50-day EMA
• RES 1: 142.62 High Feb 28
• PRICE: 141.15 @ Close Feb 28
• SUP 1: 138.63/06 Low Feb 22 / 16 and the bear trigger
• SUP 2: 137.52 Low May 18, 2020 (cont)
• SUP 3: 136.86 Low May 13, 2020 (cont)
• SUP 4: 136.60 2.0% 10-dma envelope

BTP futures remain in a downtrend however, a short-term corrective cycle dominates following last week’s gains and yesterday's bullish start to the week. The contract has traded through the 20-day EMA and attention is on the 50-day EMA, at 143.37. This average represents a key short-term resistance level and a clear break would strengthen the current bullish theme. On the downside, the key bear trigger is unchanged at 138.06, Feb 16 low.