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CNH: Approaching Key Support

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  • RES 4: 155.00 Round number resistance
  • RES 3: 154.15 0.764 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 2: 153.82 High Feb 12 (cont)
  • RES 1: 153.35 0.618 proj of May 19 - Jun 14 - Jun 25 price swing
  • PRICE: 153.09 @ Close Jul 19
  • SUP 1: 152.50 Low Jul 13
  • SUP 2: 151.93/54 Low Jul 8 / Low Jul 6
  • SUP 3: 151.19 High Jul 1
  • SUP 4: 150.56 Low Jun 30

BTPs maintain a bullish tone following last week's resumption of the uptrend. Gains Jul 6 and 7 resulted in a breach of key resistance at 152.47, Jun 14 high. The break confirmed a resumption of the uptrend that started May 19 and paves the way for a stronger short-term recovery. Last week's extension and yesterday's fresh high print reinforce the bullish theme. Attention is on 153.82, the Feb 12 high. Initial support is at the Jul 13 low of 152.50.