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TECHS: (U0) Holding Onto This Week's Gains

BTPS
  • RES 4: 150.00 Psychological round number
  • RES 3: 148.97 High Feb 13 (cont)
  • RES 2: 148.95 1.0% 10-dma envelope
  • RES 1: 148.17 High Aug 11 and the bull trigger
  • PRICE: 147.84 @ Close Aug 18
  • SUP 1: 146.37 Low Aug 3 and key near-term support
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 144.92 Low Jul 20
  • SUP 4: 145.00 50-dma

BTP futures are holding 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 has held. 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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