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(H3) Uptrend Intact

BTP TECHS
  • RES 4: 118.96 High Dec 7 and a key resistance
  • RES 3: 117.93 High Dec 13
  • RES 2: 117.12 High Dec 14
  • RES 1: 116.57 High Jan 12
  • PRICE: 115.25 @ Close Jan 16
  • SUP 1: 114.46/113.75 Low Jan 16 / High Jan 9
  • SUP 2: 111.59/110.77 Low Jan 6 / Low Jan 4
  • SUP 3: 109.29 Low Jan 3
  • SUP 4: 108.36 Low Dec 30 low and bear trigger

The current bull cycle in BTP futures remains intact and the contract traded higher last week. Price has recently cleared the 20-day EMA and last week’s rally resulted in a break of the 114.00 and 116.00 handles. The acceleration higher signals scope for a climb towards 117.93, the Dec 13 high. On the downside, a key support lies at 111.59, the Jan 6 low. Initial firm support is seen at 113.75, the Jan 9 high.

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