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TECHS: (U0) Resumes Its Uptrend

BTPS
  • RES 4: 150.00 Psychological round number
  • RES 3: 149.15 1.0% 10-dma envelope
  • RES 2: 148.97 High Feb 13 (cont)
  • RES 1: 148.27 High Aug 20
  • PRICE: 148.07 @ Close Aug 20
  • SUP 1: 146.41/37 Low Aug 14 / Low Aug 3 and key support
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 145.34 50-day EMA
  • SUP 4: 144.92 Low Jul 20

BTP futures extended gains yesterday, trading above the recent high of 148.17. The move higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Attention turns to 148.97 next, Feb 13 high (cont). On the downside, support at 146.37, Aug 3 low remains intact. A break of this level would undermine bullish conditions and warn of a possible top.

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