BTP TECHS: (Z5) Bullish Outlook
- RES 4: 123.14 1.764 proj of the Sep 3 - 11 - 25 price swing
- RES 3: 122.81 1.618 proj of the Sep 3 - 11 - 25 price swing
- RES 2: 122.53 1.500 proj of the Sep 3 - 11 - 25 price swing
- RES 1: 121.94 High Oct 17 / 24 and the bull trigger
- PRICE: 121.34 @ Close Oct 30
- SUP 1: 120.74 High Aug 5 and a recent breakout level
- SUP 2: 120.50 50-day EMA
- SUP 3: 119.48 Low Oct 7
- SUP 4: 119.07 Low Sep 25t
Trend conditions in BTP futures remain bullish and short-term weakness is - for now - considered corrective. The contract is trading closer to its recent highs and note the moving average studies are in a bull-mode position, highlighting a dominant uptrend. The bull trigger is 121.94, the Oct 17 / 24 high. Initial firm support to watch is 120.74, the Aug 5 high. The contract is overbought, a deeper retracement would allow this condition to unwind.
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SILVER TECHS: Fresh Cycle High
- RES 4: $49.444 - 3.236 proj of the Sep 4 - 16 - 17 price swing
- RES 3: $49.000 - Round number resistance
- RES 2: $47.857 - 2.618 proj of the Sep 4 - 16 - 17 price swing
- RES 1: $47.251 - 2.382 proj of the Sep 4 - 16 - 17 price swing
- PRICE: $46.907 @ 08:01 BST Oct 1
- SUP 1: $44.601/43.287 - Low Sep 26 / 20-day EMA
- SUP 2: $40.856 - 50-day EMA
- SUP 3: $38.580 - Low Aug 28
- SUP 4: $36.965 - Low Aug 20
Trend signals in Silver remain bullish. The metal has traded higher this week as the bull cycle extends. Note that moving average studies are in a bull-mode position too, reinforcing current conditions. Sights are $47.857 next, a 2.618 projection of the Sep 4 - 16 - 17 price swing. Clearance of this level would pave the way for a climb towards the $48.00 handle. Initial firm support to watch lies at $43.287, the 20-day EMA.
GILTS: Opening Calls
Gilt calls, 90.60/90.62.
EQUITIES: EU Cash Opening Calls
Estox 50: -0.08%, Dax: -0.27%, CAC: +0.15%, FTSE +0.20%, SMI +0.39%,
