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(Z1) Fresh Trend Low

BTP TECHS
  • RES 4: 155.14 High Aug 31
  • RES 3: 154.64 High Sep 22 / 23
  • RES 2: 153.59 High Sep 24
  • RES 1: 152.54/87 High Oct 14 and key resistance / High Oct 1
  • PRICE: 151.33 @ Close Oct 20
  • SUP 1: 150.79 Low Oct 19
  • SUP 2: 150.56 Low Jun 30 (cont)
  • SUP 3: 150.00/149.97 Round number support / Low Jun 25
  • SUP 4: 148.77 61.8% retracement of the May - Aug rally (cont)

BTP futures traded to a fresh trend low again yesterday and the outlook remains bearish. A key short-term resistance has been defined at 152.54, Oct 14 high where a break is required to signal a potential short-term base. The trend remains bearish and a resumption of weakness would open 150.56 next, the Jun 30 low on the continuation chart. Moving average conditions remain in a bear mode condition, reinforcing the current trend direction.

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