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TECHS: (Z0) Through The 20-Day EMA

BTPS
  • RES 4: 152.00 Round number resistance
  • RES 3: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 2: 150.46 High Oct 16 and the bull trigger
  • RES 1: 149.58 Oct 20 high
  • PRICE: 148.45 @ Close Oct 22
  • SUP 1: 148.37 Low Oct 22
  • SUP 2: 148.03 38.2% retracement of the Sep 1 - Oct 16 rally
  • SUP 3: 147.46 Low Sep 30
  • SUP 4: 147.27 50.0% retracement of the Sep 1 - Oct 16 rally

BTPS outlook remains bullish however futures are currently in a corrective cycle with price still softer and trading below recent highs. The contract has breached the 20-day EMA at 148.73 signalling scope for a deeper pullback, potentially towards 148.03, a Fibonacci retracement level. Initial resistance is at 149.58, Oct 20 high. A break of 150.46, Oct 16 high and the bull trigger would resume the uptrend.

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