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(U3) Uptrend Remains Intact

BTP TECHS
  • RES 4: 118.18 High Feb 2 (cont)
  • RES 3: 117.00 Round number resistance
  • RES 2: 116.36 High Jun 2 and the bull trigger
  • RES 1: 116.06 High Jun 6
  • PRICE: 115.15 @ Close Jun 6
  • SUP 1: 114.92 Low May 31
  • SUP 2: 113.36 Low 30 and a key near-term support
  • SUP 3: 112.49 Low May 29
  • SUP 4: 111.78 Low May 26 and a key support

BTP futures maintains a bullish theme and price is trading closer to recent highs. A break of 116.36, the Feb 2 high, would confirm a resumption of the uptrend and pave the way for gains towards the 117.00 handle. Moving average studies remain in a bull mode condition and this reinforces current conditions. On the downside, initial firm support to watch lies at 113.36, the May 30 low.

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