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(U1) Momentum Remains Firm

BTP TECHS
  • RES 4: 153.82 High Feb 12 (cont)
  • RES 3: 153.40 1.236 proj of the May 19 - 28 price swing
  • RES 2: 152.66 1.00 proj of the May 19 - 28 price swing
  • RES 1: 152.45 High Jun 11
  • PRICE: 152.32 @ Close Jun 11
  • SUP 1: 150.75 Low Jun 10
  • SUP 2: 150.11 Low Low Jun 8 and key near-term support
  • SUP 3: 149.53 Low May 28
  • SUP 4: 148.80 Low May 25

BTP futures traded higher again Friday and the contract maintains the current bullish cycle following the reversal from the 147.00 low on Mar 19. With bulls clearly in control and momentum still positive, attention is on 152.66 next, a Fibonacci projection. The contract is also approaching the Feb high of 153.82. On the downside, firm support has been defined at 150.11, Jun 8 low. Initial support is at yesterday's low of 150.75, Jun 10 low.

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