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TECHS: (Z0) Attention Reverts To Support

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: 144.71 @ Close Sep 7
  • SUP 1: 144.55 Low Sep 7
  • SUP 2: 144.09 Low Sep1 and the bear trigger
  • SUP 3: 144.07 1.00 proj of Aug 19 - Sep sell-off from Sep 3 high
  • SUP 4: 144.0 Round number support

BTP futures traded lower again yesterday, pulling further away from last week's high of 146.19 on Sep 3. The move lower refocuses attention on support at 144.09, Sep 1 low and the near-term bear trigger. A break would signals scope for a deeper correction. On the upside, key resistance is located at 146.20, Aug 20 high and a high print of 146.62 on Jul 24. A break of this zone is required to confirm a resumption of the broader uptrend.

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