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TECHS: (Z0) Bull Trend Extends Once Again

BTPS
  • RES 4: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 3: 150.74 Bull channel top drawn off the Sep 8 low
  • RES 2: 150.00 Psychological round number
  • RES 1: 149.99 High Oct 8
  • PRICE: 149.97 @ Close Oct 12
  • SUP 1: 149.05 Bull Channel support drawn off the Aug 9 low
  • SUP 2: 148.15 Low Oct 2
  • SUP 3: 147.96 Low 20-day EMA
  • SUP 4: 147.32 Low Sep 28 and key near-term support

BTPS have continued to extend gains, touching a fresh all-time high print of 149.99 yesterday. The move once again confirms a resumption of the bull trend and maintains the positive price sequence of higher highs and higher lows. With futures in uncharted territory, Fibonacci projections highlight scope for a climb towards 151.17. The initial objective is the psychological 150.00 handle now within touching distance. Initial support lies at 149.05.

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