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(H3) Pullback Extends

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: 110.83 @ 08:18 GMT Dec 20
  • SUP 1: 110.55 Intraday low
  • 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. The contract has cleared support at 115.01, the Nov 28 low and this signals scope for a deeper pullback. Attention is on the 110.00 handle. On the upside, initial firm resistance is far-off at 117.93, the Dec 13 high. A break would expose key resistance and the bull trigger at 118.96, the Dec 7 high. First resistance is at 113.23, the Dec 16 high.

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