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(H3) Outlook Remains Bearish

BTP TECHS
  • RES 4: 118.96 High Dec 7 and the bull trigger
  • RES 3: 117.93 High Dec 13
  • RES 2: 116.43 High Dec 15
  • RES 1: 113.23/115.01 High Dec 16 / Low Nov 28
  • PRICE: 110.83 @ Close Dec 22
  • SUP 1: 110.48 Low Dec 22
  • 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 the latest bearish price action. The contract 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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