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(U1) Still heading North

BTP TECHS
  • RES 4: 152.66 1.00 proj of the May 19 - 28 price swing
  • RES 3: 152.00 Round number resistance
  • RES 2: 151.92 0.764 proj of the May 19 - 28 price swing
  • RES 1: 151.71 High Jun 9
  • PRICE: 151.35 @ Close Jun 9
  • SUP 1: 150.11 Low Low Jun 8
  • 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 sharply higher yesterday and the contract maintains the current bullish cycle following the reversal from the 147.00 low on Mar 19. This cycle is allowing an earlier oversold condition to unwind. With bulls clearly in control, attention is on 151.92 next, a Fibonacci projection and the 152.00 handle. On the downside, support has been defined at 150.11, Jun 8 low.

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