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(Z3) Breaches Support

BTP TECHS
  • RES 4: 118.00 Round number resistance
  • RES 3: 117.48/60 High Jul 19 / Jun 26 and key resistance (cont)
  • RES 2: 116.86 High Jul 24 (cont)
  • RES 1: 115.56 High Aug 24
  • PRICE: 1113.87@ Close Sep 4
  • SUP 1: 113.72 Low Sep 4
  • SUP 2: 113.00 Low Aug 22
  • SUP 3: 112.60 Low Aug 17 and a key support
  • SUP 4: 112.00 Round number support

Recent price action in BTP futures have resulted in a move above key short-term EMAs and this highlights a stronger short-term bull cycle. Resistance at 115.41 the Aug 9 high, has been pierced - a clear break of this level would signal scope for an extension higher. The contract has pulled away from its recent high and traded below support at 113.97, the Aug 28 low. A continuation lower would instead expose 112.60, the Aug 17 low.

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