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(H3) Uptrend Extends

BTP TECHS
  • RES 4: 121.35 1.382 proj of the Oct 21 - 27 - Nov 8 price swing
  • RES 3: 120.09 1.236 proj of the Oct 21 - 27 - Nov 8 price swing
  • RES 2: 119.00 Round number resistance
  • RES 1: 118.96 High Dec 7
  • PRICE: 118.48 @ Close Dec 7
  • SUP 1: 116.51 Low Dec 5
  • SUP 2: 115.01 Low Nov 28 and key short-term support
  • SUP 3: 114.49 Low Nov 17
  • SUP 4: 113.77 Low Nov 15

BTP futures trend signals remain bullish. The contract has traded higher this week and has breached last week’s high print of 118.12 on Dec 2. This reinforces short-term bullish conditions and maintains the positive price sequence of higher highs and higher lows. The focus is on a climb towards the 120.00 handle. On the downside, key support short-term has been defined at 115.01, the Nov 28 low.

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