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(U1) Fresh Highs

BTP TECHS
  • RES 4: 151.88 0.618 proj of the May 19 - 27 - 28 price swing
  • RES 3: 151.43 0.618 proj of the May 19 - 27 - 28 price swing
  • RES 2: 151.07 0.50 proj of the May 19 - 27 - 28 price swing
  • RES 1: 150.89/51.00 High Jun 8 / Round Number Resistance
  • PRICE: 150.76 @ Close Jun 8
  • SUP 1: 149.94 Low Low Jun 1
  • SUP 2: 149.53 Low May 28 and key near-term support
  • SUP 3: 148.80 Low May 25
  • SUP 4: 148.24 Low May 24

BTP futures traded higher again yesterday and the contract maintains the current bullish corrective cycle following the reversal from the 147.00 low on Mar 19. This cycle is allowing an earlier oversold condition to unwind. Attention is on the 151.00 handle next and 151.07, a Fibonacci projection. Initial firm support has been defined at 149.53, the May 28 low. A break would signal a potential reversal.

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