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Resend - Remains Heavy

BTP TECHS
  • RES 4: 151.98 High Feb 22
  • RES 3: 151.31/33 50- and 20-day EMA zone
  • RES 2: 150.60 High Feb 25
  • RES 1: 150.02 High Feb 26
  • PRICE: 149.80 @ Close Feb 26
  • SUP 1: 148.72 Low Feb 26
  • SUP 2: 148.37 Low Oct 22 and key support
  • SUP 3: 148.08 200-dma (cont)
  • SUP 4: 147.46 Low Sep 30, 2020 (cont)

BTP futures remain in a bear mode following last week's strong sell-off. Price has cleared support at 149.57, Jan 22 low adding further weight to the current sell-off. A break of Friday's low of 148.72 would trigger an extension lower towards 148.37, Oct 22, 2020 low (cont). Clearance of this level would open the 148.00 handle. On the upside, resistance is seen at 150.60, the Feb 25 high ahead of 151.31/33 zone, the 50- and 20-day EMA.

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