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(M2) Fresh Trend Low Print

BTP TECHS
  • RES 4: 137.19 50-day EMA
  • RES 3: 136.12 High Apr 7
  • RES 2: 135.23 High Apr 14
  • RES 1: 133.53/77 High Apr 28 / 20-day EMA
  • PRICE: 130.34 @ Close Apr 29
  • SUP 1: 130.22 Low Apr 29
  • SUP 2: 130.00 Psychological round number
  • SUP 3: 128.08 2.00 proj of the Mar 31 - Feb 16 - Mar 1 price swing
  • SUP 4: 127.63 1.00 proj of the Mar 1 - 29 - 31 price swing

The trend condition in BTP futures remains bearish - Friday’s move lower resulted in another fresh trend low print. This once again confirms a continuation of the broader bearish price sequence of lower lows and lower highs that defines a downtrend. Moving average studies remain in a bear mode too. The focus is on the 130.00 handle next and a firm short-term resistance has been defined at 133.53, Apr 28 high.

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