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(M4) Has Cleared Resistance

BTP TECHS
  • RES 4: 120.65 High Dec 27
  • RES 3: 120.00 Round number resistance
  • RES 2: 119.54 High Dec 29
  • RES 1: 119.32 High Mar 6
  • PRICE: 119.01 @ Close Mar 6
  • SUP 1: 117.57 20-day EMA
  • SUP 2: 116.52 Low Feb 29
  • SUP 3: 116.15 Low Feb 22 and the bear trigger
  • SUP 4: 116.00 Round number support

BTP futures have traded higher this week resulting in a break of key short-term resistance at 118.81, the Jan 30 high. The clear break of this hurdle highlights a bullish reversal and signals scope for a continuation higher near-term. This has opened 119.54, the Dec 29 high, ahead of the 120.00 handle. Key short-term support has been defined at 116.15, the Feb 22 low. Clearance of this level would reinstate a bearish theme.

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  • RES 4: 120.65 High Dec 27
  • RES 3: 120.00 Round number resistance
  • RES 2: 119.54 High Dec 29
  • RES 1: 119.32 High Mar 6
  • PRICE: 119.01 @ Close Mar 6
  • SUP 1: 117.57 20-day EMA
  • SUP 2: 116.52 Low Feb 29
  • SUP 3: 116.15 Low Feb 22 and the bear trigger
  • SUP 4: 116.00 Round number support

BTP futures have traded higher this week resulting in a break of key short-term resistance at 118.81, the Jan 30 high. The clear break of this hurdle highlights a bullish reversal and signals scope for a continuation higher near-term. This has opened 119.54, the Dec 29 high, ahead of the 120.00 handle. Key short-term support has been defined at 116.15, the Feb 22 low. Clearance of this level would reinstate a bearish theme.