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(Z1) Bull Cycle Intact

BTP TECHS
  • RES 4: 155.14 High Aug 31
  • RES 3: 154.64 High Sep 22 / 23 and a key resistance
  • RES 2: 153.59 High Sep 24
  • RES 1: 153.08 High Nov 10
  • PRICE: 151.34 @ Close Nov 15
  • SUP 1: 150.72 Nov 12 low
  • SUP 2: 149.89 Nov 3 low
  • SUP 3: 148.14 Low Nov 2
  • SUP 4: 147.12 Low Nov 1 and the bear trigger

BTP futures outlook remains bullish despite the most recent pullback. Recent gains have confirmed a short-term bull cycle and last week's breach of 152.54, Oct 14 high strengthens this short-term condition. The break opens 153.59 next, Sep 24 high. Initial firm support is seen at 149.89, Nov 3 low where a break would undermine the positive theme. Key support has been defined at 147.12, Nov 1 low.

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