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TECHS: (U0) Still Bullish Despite Friday Pullback

BTPS
  • 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: 146.94 @ Close Aug 3
  • SUP 1: 146.37 Low Aug 3
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 145.59 20-day EMA
  • SUP 4: 144.92 Low Jul 20

BTP futures faded further from the Monday open, hitting a new low at 146.37 before staging a tepid bounce. The current uptrend has been damaged somewhat by prices failing to hold 146.52 which may knock bullish confidence, although 147.69 remains the key upside target and MA and momentum studies remain bullish. Attention is on 148.32 next, high Mar 4 (cont). Initial firm support shifts lower to 146.37, Aug 3 low.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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