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(U3) Support Remains Exposed

BTP TECHS
  • RES 4: 118.18 High Feb 2 (cont)
  • RES 3: 118.00 Round number resistance
  • RES 2: 117.10/60 High Jun 29 / 26 and the bull trigger
  • RES 1: 116.52 High Jul 3
  • PRICE: 115.36 @ Close Jul 6
  • SUP 1: 114.61 Low Jun 15
  • SUP 2: 113.83 Low Jun 8 and key support
  • SUP 3: 112.48 Low May 29
  • SUP 4: 111.78 Low May 26 and a key support

BTP futures remain soft following this week’s move lower and attention is on support at 114.61, the Jun 15 low. Clearance of this level would pave the way for a deeper pullback and expose 113.83, the Jun 8 low. On the upside, initial resistance is seen at 116.52, Monday’s high. Clearance of this level would be seen as a bullish development. Key resistance and the bull trigger is at 117.60, the Jun 26 high.

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