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BTPS: TECHS:(Z18) 100-DMA Support Holds Firm
*RES 4: 132.88 High May 28 (Continuation chart)
*RES 3: 129.97 High July 19 (Continuation chart)
*RES 2: 128.02 High July 17
*RES 1: 127.70 High Sep 18
*PREVIOUS CLOSE: 126.40
*SUP 1: 125.17 100-dma
*SUP 2: 124.38 55-dma
*SUP 3: 123.30 High Aug 22 now support
*SUP 4: 120.47 Low Sep 3
Early weakness in Dec-18 BTP futures found strong support at the 100-dma, which
keeps the broader bullish trend alive and allows bulls to target the Sep 18 high
of 127.70. A break above here would shift the focus back to the July 17 high
which would potentially trigger a large double bottom formation, turning the
medium-term outlook bullish. Bears need a close below the 100-dma at 125.17 to
suggest a bearish reversal is in play.