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(M2) Southbound

BTP TECHS
  • RES 4: 140.71 High Mar 11
  • RES 3: 139.23 High Mar 23
  • RES 2: 136.52/38.68 20-day EMA / High Mar 31 and key resistance
  • RES 1: 136.12 High Apr 7
  • PRICE: 133.50 @ Close Apr 14
  • SUP 1: 132.69 Low Apr 12
  • SUP 2: 132.61 Low Apr 22 2020 (cont)
  • SUP 3: 131.85 0.618 proj of the Mar 1 - 29 - 31 price swing
  • SUP 4: 130.24 0.764 proj of the Mar 1 - 29 - 31 price swing

BTP futures traded lower on Apr 12, extending the recent breach of support at 135.69, Mar 29 low. The move lower confirmed a resumption of the primary downtrend and a continuation of the broader bearish price sequence of lower lows and lower highs. Moving averages remain in a bear mode. The focus is on 132.61 next, the Apr 22 2020 low (cont). Firm trend resistance is unchanged at 138.68, the Mar 31 high.

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