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TECHS: (U0) Dip Buying Mentality Intact

BTPS
  • RES 4: 148.97 High Feb 13 (cont)
  • RES 3: 148.95 High Mar 4 (cont)
  • RES 2: 148.99 1.0% 10-dma envelope
  • RES 1: 148.16 High Aug 5
  • PRICE: 147.47 @ Close Aug 12
  • SUP 1: 146.37 Low Aug 3
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 144.92 Low Jul 20
  • SUP 4: 144.54 50-dma (cont)

BTPs are faring far better than their core fixed income counterparts, with dips still bought into the close and the bullish outlook being (largely) retained. This keeps upside targets at 148.95 (March 4th high) in range. MA and momentum studies remain bullish, but have weakened a touch due to this week's moderation. Initial firm support shifts lower to 146.37, Aug 3 low.

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