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(Z1) Under Pressure Once Again

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 Intraday high / High Oct 27 and key resistance
  • PRICE: 148.71 @ 10:32 BST Oct 28
  • SUP 1: 148.04 1.236 proj of the Sep 23 - Oct 6 - 14 price swing
  • SUP 2: 147.51 1.382 proj of the Sep 23 - Oct 6 - 14 price swing
  • SUP 3: 147.13 76.4% retracement of the May - Aug rally (cont)
  • SUP 4: 146.65 1.618 proj of the Sep 23 - Oct 6 - 14 price swing

BTP futures are under pressure once again today as the contract continues its slide. The break lower maintains and extends the bearish price sequence of lower lows and lower highs. With moving average signals also pointing south, the focus shifts to 148.04, a Fibonacci projection. Key short-term resistance has been defined at 151.89, Oct 27 high. A break of this level is required to signal a potential short-term base.

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