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(U2) Support Remain Intact

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: 124.79/126.41 High Jul 20 / High Jul 1 and the bull trigger
  • PRICE: 123.70 @ Close Jul 27
  • SUP 1: 119.57 Low Jul 21 and key near-term support
  • SUP 2: 118.60 Low Jun 22
  • SUP 3: 115.72 Low Jun 16
  • SUP 4: 113.78 Contract Low

BTP futures short-term trend conditions remain bullish. The contract found support last week at 119.57, the Jul 22 low. This level has been defined as a key short-term support and if breached, would highlight a stronger reversal. An extension higher would refocus attention on key resistance at 126.41, the Jul 1 high and bull trigger. A break would resume the uptrend and pave the way for a climb towards 127.79, May 26 high.

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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: 124.79/126.41 High Jul 20 / High Jul 1 and the bull trigger
  • PRICE: 123.70 @ Close Jul 27
  • SUP 1: 119.57 Low Jul 21 and key near-term support
  • SUP 2: 118.60 Low Jun 22
  • SUP 3: 115.72 Low Jun 16
  • SUP 4: 113.78 Contract Low

BTP futures short-term trend conditions remain bullish. The contract found support last week at 119.57, the Jul 22 low. This level has been defined as a key short-term support and if breached, would highlight a stronger reversal. An extension higher would refocus attention on key resistance at 126.41, the Jul 1 high and bull trigger. A break would resume the uptrend and pave the way for a climb towards 127.79, May 26 high.