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(Z2) Outlook Remains Bearish

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(Z2) Remains Vulnerable

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(Z2) Remains Vulnerable

BTP TECHS
  • RES 4: 119.06 High Sep 8 and a reversal trigger
  • RES 3: 117.63 High Sep 14
  • RES 2: 116.69 20-day EMA
  • RES 1: 113.46/114.67 High Sep 26 / Low Sep 20
  • PRICE: 112.35 @ Close Sep 26
  • SUP 1: 110.14 Low Sep 26
  • SUP 2: 110.00 Round number support
  • SUP 3: 109.16 2.00 proj of the Aug 25 - Sep 1 - 8 price swing
  • SUP 4: 107.99 2.236 proj of the Aug 25 - Sep 1 - 8 price swing

BTP futures remain bearish and the contract started the week on a softer note as it extends the current bearish cycle. Last week’s extension lower confirmed a resumption of the bear cycle - the contract traded through the early September lows. Moving averages are in a bear mode too, highlighting the current sentiment. The focus is on 110.00 next. On the upside, initial firm resistance is seen at 116.69, the 20-day EMA.

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  • RES 4: 119.06 High Sep 8 and a reversal trigger
  • RES 3: 117.63 High Sep 14
  • RES 2: 116.69 20-day EMA
  • RES 1: 113.46/114.67 High Sep 26 / Low Sep 20
  • PRICE: 112.35 @ Close Sep 26
  • SUP 1: 110.14 Low Sep 26
  • SUP 2: 110.00 Round number support
  • SUP 3: 109.16 2.00 proj of the Aug 25 - Sep 1 - 8 price swing
  • SUP 4: 107.99 2.236 proj of the Aug 25 - Sep 1 - 8 price swing

BTP futures remain bearish and the contract started the week on a softer note as it extends the current bearish cycle. Last week’s extension lower confirmed a resumption of the bear cycle - the contract traded through the early September lows. Moving averages are in a bear mode too, highlighting the current sentiment. The focus is on 110.00 next. On the upside, initial firm resistance is seen at 116.69, the 20-day EMA.