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(U2) Softer, But Off the Lows

BTP TECHS
  • RES 4: 130.00 Round number resistance
  • RES 3: 129.00 High May 12
  • RES 2: 127.79 High May 26
  • RES 1: 126.41 High Jul 1 and the bull trigger
  • PRICE: 120.87 @ 16:56 BST Jul 21
  • SUP 1: 119.57 Low Jul 21
  • SUP 2: 118.60 Low Jun 22
  • SUP 3: 115.72 Low Jun 16
  • SUP 4: 113.78 Contract Low

BTP futures traded lower again Thursday, but recovered off the low into the close. Following Wednesday’s bearish close, focus remains on the downside, with 119.57, the Jul 21 low a key focus. This rebuffs the formation of a bull flag and dents the bullish short-term trend condition. Further weakness opens 118.60 and 115.72 below.

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  • RES 4: 130.00 Round number resistance
  • RES 3: 129.00 High May 12
  • RES 2: 127.79 High May 26
  • RES 1: 126.41 High Jul 1 and the bull trigger
  • PRICE: 120.87 @ 16:56 BST Jul 21
  • SUP 1: 119.57 Low Jul 21
  • SUP 2: 118.60 Low Jun 22
  • SUP 3: 115.72 Low Jun 16
  • SUP 4: 113.78 Contract Low

BTP futures traded lower again Thursday, but recovered off the low into the close. Following Wednesday’s bearish close, focus remains on the downside, with 119.57, the Jul 21 low a key focus. This rebuffs the formation of a bull flag and dents the bullish short-term trend condition. Further weakness opens 118.60 and 115.72 below.