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(Z1) Support Remains Intact

  • 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: 153.12 High Nov 10 and the bull trigger
  • PRICE: 151.95 @ Close Nov 22
  • SUP 1: 150.72 Low Nov 12 and key short-term support
  • SUP 2: 149.89 Low Nov 3
  • SUP 3: 148.14 Low Nov 2
  • SUP 4: 147.12 Low Nov 1 and the bear trigger

BTP futures remain above recent lows and the short-term outlook remains bullish despite yesterday's pullback from session highs. Gains since Nov 1 have confirmed a short-term bull cycle and the recent breach of 152.54, Oct 14 high strengthens this short-term condition. The breach opens 153.59 next, Sep 24 high. Initial firm support is seen at 150.72, Nov 12 low where a break would undermine the positive theme.

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