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TECHS: (U0) Bullish Price Sequence Intact

BTPS
  • RES 4: 148.97 High Feb 13 (cont)
  • RES 3: 148.32 High Mar 4 (cont)
  • RES 2: 148.00 Round number resistance
  • RES 1: 147.69 High Jul 30
  • PRICE: 147.38 @ Close Jul 30
  • SUP 1: 146.52 Low Jul 29 and key near-term support
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 145.59 20-day EMA
  • SUP 4: 144.92 Low Jul 20

BTPS futures maintain the current uptrend that has been in place since late April. The bullish price sequence of higher highs and higher lows that defines a bull trend remains clearly intact. Furthermore, MA and momentum studies are in a bullish position although it is worth noting that the trend condition is overbought. Attention is on 148.32 next, high Mar 4 (cont). Initial firm support is 146.52, Jul 29 low.

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