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TECHS: (Z18) Rallies Lack Momentum *RES 4:.....>

BTPS
BTPS: TECHS: (Z18) Rallies Lack Momentum
*RES 4: 128.02 High July 17 
*RES 3: 127.70 High Sep 18 
*RES 2: 123.27 55-dma 
*RES 1: 120.97 High Oct 11 
*PREVIOUS CLOSE: 119.78 
*SUP 1: 118.39 Low Oct 9 
*SUP 2: 118.00 Channel bottom (continuation chart) 
*SUP 3: 117.87 Low May 8, 2013 (continuation chart) 
*SUP 4: 113.64 Low Jan 3, 2014 (continuation chart) 
The Oct 11 high continues to cap the recovery in Dec-18 BTPs, keeping the
broader downtrend intact. Bulls need to overcome this level to  shift the
outlook neutral and open the 55-dma at 123.27, a break of which is needed to
gives bulls the edge. On the downside, a close below 118.39 is still needed to
extend the downtrend towards the bear channel bottom at 118.00.

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