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TECHS: (Z0) Directional Triggers Defined

BTPS
  • RES 4: 147.00 Round number resistance
  • RES 3: 146.62 High Jul 24
  • RES 2: 146.21 High Aug 19 and a bull trigger
  • RES 1: 146.19 High Sep 4
  • PRICE: 145.58 @ Close Sep 11
  • SUP 1: 144.46 Low Sep 8
  • 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 continue to trade below the Aug 19 high of 146.21. This level marks the bull trigger where a break would confirm a resumption of the uptrend and open 146.62, a high print on Jul 24. On the downside, key support has been defined at 144.09, Sep 1 low. This level also represents a key support and is seen as the near term bear trigger. A break would instead signal a short-term reversal and highlight potential for a deeper correction. In short, 146.21 and 144.09 mark the current directional triggers.

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