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(M3) Support Remains Intact - For Now

BTP TECHS
  • RES 4: 118.56 High Jan 19 (cont) and a key resistance
  • RES 3: 118.18 High Feb 2 (cont)
  • RES 2: 117.16 High Mar 20 / 21
  • RES 1: 115.29/116.00 High mar 22 / Round number resistance
  • PRICE: 114.65 @ Close Mar 22
  • SUP 1: 114.15/114.04 Low Mar 22 / 20-day EMA
  • SUP 2: 113.02 High Mar 9 and a gap low
  • SUP 3: 111.79 Low Mar 9
  • SUP 4: 110.79 Low Mar 7

BTP futures Have pulled back from this week’s 117.16 high. The short-term outlook remains bullish and pullbacks are considered corrective. A resumption of gains would open 118.18 next, 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. Initial firm support is seen at 114.04, the 20-day EMA.

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