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TECHS: (Z0) Uptrend Remains Intact

BTPS
  • RES 4: 147.61 1.500 proj of Sep 1 - 3 rally from Sep 8 low
  • RES 3: 147.36 1.382 proj of Sep 1 - 3 rally from Sep 8 low
  • RES 2: 147.06 1.236 proj of Sep 1 - 3 rally from Sep 8 low
  • RES 1: 146.80 High Sep 18
  • PRICE: 146.49 @ Close Sep 18
  • SUP 1: 146.06 Low Sep 16
  • SUP 2: 145.56 Low Sep 15 and key near-term support
  • SUP 3: 144.96 Low Sep 9
  • SUP 4: 144.46 Low Sep 8

BTP futures maintain a bullish posture. The contract traded higher last week extending the most recent rally that started off the Sep 8 low. Furthermore, the climb has also confirmed a resumption of the underlying uptrend following a break of resistance at 146.21, Aug 19 high. The focus is on 147.06 next, a Fibonacci projection. Initial firm support is at 145.56, Sep 15 low. A break of this level would dent the current positive sentiment.

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