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(M3) Watching Support

BTP TECHS
  • RES 4: 118.18 High Feb 2 (cont)
  • RES 3: 118.00 Round number resistance
  • RES 2: 117.17 High Mar 24 and the bull trigger
  • RES 1: 115.64 High Mar 29
  • PRICE: 115.19 @ Close Mar 29
  • SUP 1: 114.69 20-day EMA
  • SUP 2: 114.15 Low Mar 22
  • SUP 3: 113.02 High Mar 9 and a gap low
  • SUP 4: 111.79 Low Mar 9

BTP futures continue to trade below last week’s high of 117.17, on Mar 24. The short-term outlook is bullish and the recent pullback is 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 114.69, the 20-day EMA.

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