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(U2) Clears Short-Term Resistance

BTP TECHS
  • RES 4: 127.79 High May 26
  • RES 3: 125.11 High Jun1
  • RES 2: 123.88 Low May 9 and a recent breakout level
  • RES 1: 123.15 High Jun 9
  • PRICE: 122.05 @ 10:05 BST Jun 23
  • SUP 1: 117.88 Low Jun 17
  • SUP 2: 115.72/113.78 Low Jun 16 / Low Jun 14 and the bear trigger
  • SUP 3: 113.22 3.764 proj of the May 12 - 24 - 26 price swing
  • SUP 4: 112.31 4.00 proj of the May 12 - 24 - 26 price swing

BTP futures have traded higher this morning and cleared initial resistance at 120.96, the 20-day EMA. The breach of this average suggests potential for a stronger short-term correction and attention shifts to 123.88, the May 9 low plus a recent breakout level. Initial support to watch is at 117.88, the Jun 17 low. A break of this support would signal a short-term bear reversal.

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