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(U1) Needle Points North

BTP TECHS
  • 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: 153.48 High Jul 20
  • PRICE: 153.25 @ Close Jul 21
  • SUP 1: 152.65 Low Jul 14
  • 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 and futures are holding onto gains. The move higher 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 S/T recovery. This week's fresh high prints reinforce a bullish theme. Attention is on 153.82, Feb 12 high. Initial support is at 152.65, Jul 14 low.

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