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(M1) Bearish Extension

BTP TECHS
  • RES 4: 150.39 High Mar 11 and key short-term resistance
  • RES 3: 149.88 High Apr 6
  • RES 2: 149.47 High Apr 8
  • RES 1: 148.33/65 20-day EMA / High Apr 22
  • PRICE: 147.45 @ Close Apr 28
  • SUP 1: 147.05 Low Apr 28
  • SUP 2: 146.84 Low Feb 26 and the bear trigger
  • SUP 3: 146.16 Low Sep 21, 2020 (cont)
  • SUP 4: 145.56 Low Sep 15, 2020 (cont)

BTP futures remain bearish and the contract drifted lower again yesterday. Further downside is likely. The break on Apr 13 of support at 148.36, Mar 18 low reinforced a bearish theme. Furthermore. yesterday's move through 147.56, Mar 5 low strengthens the bearish case. Attention is on key support and the bear trigger at 146.84, Feb 26 low. Firm resistance is at 148.65.

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