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(H2) Testing The Bull Trigger

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: 150.66 High Dec 6
  • PRICE: 150.52 @ Close GMT Dec 6
  • SUP 1: 149.14/148.25 Low Dec 3 / 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 started the week on a firm note trading higher Monday and testing territory just above key resistance and bull trigger at 159.64, the Nov 22 high. The climb reinforces short-term bullish conditions following the recent recovery from 147.36, Nov 24 low. A clear break of 159.64 would confirm a resumption of the uptrend since early November and open 151.00. Initial firm support is seen at 148.25, Dec 1 low.

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