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TECHS: (Z0) Approaching Key Resistance

BTPS
  • RES 4: 147.00 Round number resistance
  • RES 3: 146.62 High Jul 24
  • RES 2: 146.20 High Aug 20 and a bull trigger
  • RES 1: 146.19 High Sep 4
  • PRICE: 145.58 @ Close Sep 3
  • SUP 1: 145.40 Low Sep 3
  • SUP 2: 144.98 Low Sep 2
  • SUP 3: 144.09 Low Jul 1 and the bear trigger
  • SUP 4: 144.0 Round number support

BTP futures have rebounded this week and extended the recovery yesterday. Initial resistance at 145.85, Aug 27 high has been breached and this has exposed the major resistance at 146.20, Aug 20 high and a high print of 146.62 on Jul 24. A break of this zone would confirm a resumption of the broader uptrend. On the downside, a reversal lower would instead open 144.09, Sep 1 low. This is a key support and the bear trigger.

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