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(Z2) Resistance Appears Exposed

BTP TECHS
  • RES 4: 121.32 High Aug 25
  • RES 3: 120.00 Round number resistance
  • RES 2: 119.06 High Sep 8 and a key resistance
  • RES 1: 118.00 High Nov 10
  • PRICE: 115.989 @ Close Nov 14
  • SUP 1: 114.40/112.45 20-day EMA / Low Nov 8
  • SUP 2: 112.07/110.14 Low Oct 25 / 14
  • SUP 3: 108.82 Low Oct 21
  • SUP 4: 108.13 Low Sep 28 and key support

BTP futures continue to trade below last week’s high. The move higher last week resulted in a test of resistance at 117.93, the Oct 27 high. A clear break would suggest scope for an extension towards 119.06, Sep 8 high and a key resistance. Initial firm support is seen at 114.40, the 20-day EMA ahead of 112.45, the Nov 8 low. A break below the latter would reinstate a bearish theme

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  • RES 4: 121.32 High Aug 25
  • RES 3: 120.00 Round number resistance
  • RES 2: 119.06 High Sep 8 and a key resistance
  • RES 1: 118.00 High Nov 10
  • PRICE: 115.989 @ Close Nov 14
  • SUP 1: 114.40/112.45 20-day EMA / Low Nov 8
  • SUP 2: 112.07/110.14 Low Oct 25 / 14
  • SUP 3: 108.82 Low Oct 21
  • SUP 4: 108.13 Low Sep 28 and key support

BTP futures continue to trade below last week’s high. The move higher last week resulted in a test of resistance at 117.93, the Oct 27 high. A clear break would suggest scope for an extension towards 119.06, Sep 8 high and a key resistance. Initial firm support is seen at 114.40, the 20-day EMA ahead of 112.45, the Nov 8 low. A break below the latter would reinstate a bearish theme