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TECHS: (U0) Approaching The Bull Trigger

BTPS
  • RES 4: 150.00 Psychological round number
  • RES 3: 149.13 1.0% 10-dma envelope
  • RES 2: 148.97 High Feb 13 (cont)
  • RES 1: 148.17 High Aug 11 and the bull trigger
  • PRICE: 148.06 @ Close Aug 19
  • SUP 1: 146.41/37 Low Aug 14 / Low Aug 3 and key support
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 145.11 50-da EMA
  • SUP 4: 144.92 Low Jul 20

BTP futures continue to hold onto this week's gains having bounced off last week's low of 146.41. From a trend perspective, underlying bullish conditions remain intact. Importantly, support at 146.37, Aug 3 low remains intact. A break of this level would undermine bullish conditions and warn of a possible top. On the upside, key resistance and the trigger for a resumption of gains is at 148.17, Aug 11 high.

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