TECHS: (U0) Still Bullish Despite Friday Pullback

• RES 4: 148.97 High Feb 13 (cont)
• RES 3: 148.32 High Mar 4 (cont)
• RES 2: 148.00 Round number resistance
• RES 1: 147.69 High Jul 30
• PRICE: 146.82 @ Close Jul 31
• SUP 1: 146.52 Low Jul 29 and key near-term support
• SUP 2: 145.62 Low Jul 21
• SUP 3: 145.59 20-day EMA
• SUP 4: 144.92 Low Jul 20

Despite the pullback into the Friday close BTP futures maintain the current uptrend that has been in place since late April. The bullish price sequence of higher highs and higher lows that defines a bull trend remains clearly intact. Furthermore, MA and momentum studies are in a bullish position and the pullback Friday relieved some of the overbought conditions. Attention is on 148.32 next, high Mar 4 (cont). Initial firm support is 146.52, Jul 29 low.