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(H3) Outlook Remains Bearish

BTP TECHS
  • RES 4: 119.00 Round number resistance
  • RES 3: 118.96 High Dec 7 and the bull trigger
  • RES 2: 117.93 High Dec 13
  • RES 1: 113.23/116.43 High Dec 16 / High Dec 15
  • PRICE: 110.75 @ Close Dec 21
  • SUP 1: 110.49 Low Dec 20
  • SUP 2: 110.00 Round number support
  • SUP 3: 109.46 Low Nov 8
  • SUP 4: 107.51 Low Oct 24

BTP futures remain soft following last week’s bearish price action and the contract has traded lower this week. Price has recently cleared support at 115.01, the Nov 28 low and this strengthened bearish conditions. Attention is on the 110.00 handle. On the upside, initial firm resistance is far-off at 117.93, Dec 13 high. A break would expose key resistance and the bull trigger at 118.96, the Dec 7 high. First resistance is 113.23, the Dec 16 high.

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