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(Z0) Bullish Theme Intact

BTP TECHS
  • RES 4: 153.09 1.00 projection of Jun 10 - Aug 20 - Sep 9 swing (cont)
  • RES 3: 152.71 1.236 proj of Oct 22 - Nov 9 rally from Nov 11 low
  • RES 2: 152.02 1.00 proj of Oct 22 - Nov 9 rally from Nov 11 low
  • RES 1: 151.57 All Time High Nov 25
  • PRICE: 151.40 @ Close Nov 26
  • SUP 1: 150.39 Low Nov 18
  • SUP 2: 149.64 Low Nov 12
  • SUP 3: 149.09 Low Nov 11 and key near-term support
  • SUP 4: 148.97 Low Nov 2

BTPS continued to climb this week and has registered a fresh all-time high of 151-57. The move above resistance at 151.30, high Nov 9 and 23 confirms a resumption of the underlying uptrend and opens the 152.00 handle with a Fibonacci projection at 152.02. Near-term firm support has been defined at 150.39, Nov 18 low and just below the 20-day EMA. A clear break of 150.39 is required to dent the current bullish mood.

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