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(Z1) Erodes Support

BTP TECHS
  • RES 4: 155.71 High Aug 5 and the bull trigger (cont)
  • RES 3: 155.68 High Aug 25
  • RES 2: 155.14 High Aug 31
  • RES 1: 154.64 High Sep 22 / 23 and key near-term resistance
  • PRICE: 152.98 @ Close Sep 24
  • SUP 1: 152.72 Low Sep 24
  • SUP 2: 152.66 Low Jul 15 (cont)
  • SUP 3: 152.16 61.8% retracement of the Jun 25 - Aug 5 rally (cont)
  • SUP 4: 151.93 Low Jul 8 (cont)

BTP futures trend conditions remain bearish. A price sequence of lower lows and lower highs that highlights a bearish theme is intact and Friday's move below 152.94, Sep 9 low, reinforces this condition. The focus is on 152.66 next, Jul 15 low on the continuation chart. On the upside, a resumption of gains would open resistance at 155.14, Aug 31 high. Key near-term resistance is at 154.64, Sep 23/24 high.

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