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(M4) Pierces Key Resistance

BTP TECHS
  • RES 4: 120.65 High Dec 27
  • RES 3: 120.00 Round number resistance
  • RES 2: 119.26 High Jan 4
  • RES 1: 118.90 High Mar 5
  • PRICE: 118.54 @ Close Mar 5
  • SUP 1: 117.42 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 traded higher Tuesday and this resulted in a print above key short-term resistance at 118.81, the Jan 30 high. A clear break of this hurdle would highlight a bullish reversal and signal scope for a continuation higher near-term. This would open 119.26, the Jan 4 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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