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TECHS: (U0) Recovers Off Recent Lows

BTPS
  • RES 4: 148.66 1.0% 10-dma envelope
  • RES 3: 148.27 High Aug 20 and the key resistance
  • RES 2: 148.15 High Aug 24
  • RES 1: 147.77 High Aug 27
  • PRICE: 147.60 @ Close Sep 2
  • SUP 1: 146.01 Low Sep 1
  • SUP 2: 145.85 50-day EMA
  • SUP 3: 145.62 Low Jul 21
  • SUP 4: 144.92 Low Jul 20

BTP futures remain bearish although yesterday's gains do signal a potential threat to bears. Initial resistance is 147.77, Aug 27 high. A break would expose key trend resistance and the cycle high at 148.27, Aug 20 high where a break would confirm a resumption of the uptrend. Recent weakness has seen price trade through 146.41, Aug 14 low to signal a near-term top. A break of 146.01, Sep 1 low is required to resume bearish pressure.

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