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BTPS: TECHS (Z9) Still Moving Sideways
*RES 4: 147.46 0.618 projection of Aug 19 - Sep 4 rally from Sep 11 low
*RES 3: 147.00 Round number resistance
*RES 2: 146.61 Contract high Sep 12 and bull trigger
*RES 1: 146.11 High Sep 25
*PRICE: 145.51 @ Close Oct 1
*SUP 1: 144.21 Low Sep 13
*SUP 2: 143.07 Low Sep 11 and key support
*SUP 3: 142.30 Low Aug 28
*SUP 4: 141.14 Low Aug 27
Z9 BTPS traded slightly lower yesterday but still trades sideways for now. The
underlying bull trend remains intact with the focus on 146.61, Sep 12 high. A
break would confirm a resumption of the uptrend and open 147.00. Whether the
latest rally can be maintained depends on support at 143.07, Sep 11 low. If
breached, this will signal the start of a correction. Bearish divergence between
price and momentum exists, its relevance will increase if 143.07 is cleared.