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(U3) Clears Resistance

BTP TECHS
  • RES 4: 118.18 High Feb 2 (cont)
  • RES 3: 117.33 0.764 projection of May 26 - Jun 2 - Jun 8 price swing
  • RES 2: 117.00 Round number resistance
  • RES 1: 116.86 Intraday high
  • PRICE: 116.49 @ Close Jun 12
  • SUP 1: 114.97 Low Jun 9
  • SUP 2: 113.83 Low Jun 8 and key short-term support
  • SUP 3: 112.48 Low May 29
  • SUP 4: 111.78 Low May 26 and a key support

BTP futures have traded higher today and in process, the contract has cleared resistance at 116.36, Jun 2 high and short-term bull trigger. This cancels a recent bearish threat and instead confirms a resumption of the uptrend and signal scope for a climb towards the 117.00 handle. On the downside, key short-term support has been defined at 113.83, the Jun 8 low. A break would be bearish.

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