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TECHS: (H0) Focus Is On Resistance *RES 4:.....>

BTPS
BTPS: TECHS: (H0) Focus Is On Resistance
*RES 4: 149.72 3.618 projection of Jan 2 - Jan 10 rally from Jan 22 low
*RES 3: 149.00 Round number resistance
*RES 2: 148.97 High Feb 13 and near-term bull trigger
*RES 1: 148.53 High Feb 18
*PRICE: 148.25 @ Close Feb 21
*SUP 1: 147.47 Low Feb 19
*SUP 2: 147.11 Low Feb 6 and key support
*SUP 3: 146.56 Low Jan 28
*SUP 4: 145.55 Low Jan 27 and gap low on daily chart
BTP futures grinded higher Thursday and Friday and has in the process defined an
important short-term support at 147.47, the Feb 19 low. The broad based
consolidation that has dominated this month is seen as a pause in the bull trend
that has been on place since Dec 3. A break of 148.53, Feb 18 high would open
the key resistance and bull trigger at 148.97, Feb 13 high. A break here resumes
the uptrend. On the downside, watch support at 147.47.

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