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(M3) Bull Cycle Still In Play

BTP TECHS
  • RES 4: 118.97 Low Nov 30 2022 (cont)
  • RES 3: 118.56 High Jan 19 (cont) and a key resistance
  • RES 2: 118.18 High Feb 2 (cont)
  • RES 1: 117.16 High Mar 20
  • PRICE: 116.42 @ Close Mar 21
  • SUP 1: 114.25/113.02 Low Feb 15 / High Mar 9 and a gap low
  • SUP 2: 111.79 Low Mar 9
  • SUP 3: 110.79 Low Mar 7
  • SUP 4: 110.25 Low Mar 2 and the bear trigger

BTP futures traded higher Friday and again yesterday to extend the reversal from 110.25, the Mar 2 low. The short-term outlook remains bullish and pullbacks are considered corrective. A continuation higher would open 118.18, the Jan 19 high on the continuation chart and a key resistance. Support to watch lies at 113.02, the Mar 9 high and a gap low on the daily chart.

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