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(U1) Trading Close To Recent Highs

  • RES 4: 154.15 0.764 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 3: 153.82 High Feb 12 (cont)
  • RES 2: 153.35 0.618 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 1: 153.18 High Jul 15
  • PRICE: 152.78 @ Close Jul 15
  • SUP 1: 151.93/54 Low Jul 8 / Low Jul 6
  • SUP 2: 151.19 High Jul 1
  • SUP 3: 150.56 Low Jun 30
  • SUP 4: 149.97 Low Jun 25 and key short-term support

BTPs are trading closer to recent highs following this week's resumption of the uptrend. Gains on Jul 6 and 7 resulted in a breach of key resistance at 152.47, Jun 14 high. The break higher confirms a resumption of the uptrend that started May 19 and paves the way for a stronger short-term recovery. This week's fresh high print reinforces the bullish theme. Attention is on 153.35, a Fibonacci projection. Initial support is at the Jul 8 low of 151.93.

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