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(U3) Trend Needle Points North

BTP TECHS
  • RES 4: 118.41 1.00 projection of May 26 - Jun 2 - Jun 8 price swing
  • RES 3: 118.18 High Feb 2 (cont)
  • RES 2: 118.00 Round number resistance
  • RES 1: 117.60 High Jun 26
  • PRICE: 117.01 @ Close Jun 28
  • SUP 1: 116.00/114.61 20-day EMA / Low Jun 15
  • 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 traded to a fresh cycle high on Monday. Price has breached resistance at 117.16, the Jun 16 high and a short-term bull trigger. This reinforces a bullish condition and signals scope for a climb towards the 118.00 handle next. Note that moving average studies remain in a bull mode condition. On the downside, key short-term support has been defined at 114.61, the Jun 15 low. A break would highlight a potential reversal.

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