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(Z0) Resumes Its Uptrend

BTP TECHS
  • RES 4: 153.09 1.000 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 3: 152.00 Round number resistance
  • RES 2: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 1: 151.11 High Nov 6
  • PRICE: 150.61 @ Close Nov 6
  • SUP 1: 149.48 20-day EMA
  • SUP 2: 148.97 Low Nov 2
  • SUP 3: 148.68 Low Oct 29
  • SUP 4: 148.37 Low Oct 22 and key near-term support

BTPS outlook remains bullish. Futures traded higher last week clearing former resistance at 150.46, Oct 16 high. The break of this hurdle confirms a resumption of the underlying uptrend and opens 151.17 next, a Fibonacci projection. Moving average studies maintain a clear bullish structure, reinforcing current trend conditions. Initial firm trend support is seen at 148.68, Oct 29 low.

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