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(Z1) Bears Still In Control

BTP TECHS
  • RES 4: 154.64 High Sep 22 / 23
  • RES 3: 153.59 High Sep 24
  • RES 2: 152.54/87 High Oct 14 / High Oct 1
  • RES 1: 149.69/151.89 High Oct 29 / High Oct 27 and key resistance
  • PRICE: 147.87 @ Close Nov 1
  • SUP 1: 147.12 Low Nov 1
  • SUP 2: 146.65 1.618 proj of the Sep 23 - Oct 6 - 14 price swing
  • SUP 3: 146.12 1.764 proj of the Sep 23 - Oct 6 - 14 price swing
  • SUP 4: 145.26 2.00 proj of the Sep 23 - Oct 6 - 14 price swing

BTP futures were in freefall again Monday as the contract traded to fresh trend lows and confirmed a resumption of the underlying downtrend. The break lower also maintains and extends the bearish price sequence of lower lows and lower highs. With MA studies pointing south, the focus shifts to 146.65 next, a Fibonacci projection. Key resistance has been defined at 151.89, Oct 27 high. A break is required to signal a potential short-term base.

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