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(M1) Key Support Remains Exposed

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: 148.09/65 20-day EMA / High Apr 22
  • PRICE: 147.09 @ Close Apr 30
  • SUP 1: 146.77 Low Apr 29
  • SUP 2: 146.54 0.764 proj of the Feb 12 - 26 - Mar 11 price swing
  • SUP 3: 146.16 Low Sep 21, 2020 (cont)
  • SUP 4: 145.56 Low Sep 15, 2020 (cont)

BTP futures remain bearish following last week's move lower. The contract has probed key support at 146.84, Feb 26 low and the bear trigger. A clear breach of this level would confirm a resumption of the downtrend that has been in place since Feb 12. This would open 146.54 next, a Fibonacci projection. On the upside, key short-term resistance has been defined at 148.65, Apr 22 high.

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