Free Trial

BTP TECHS: (U4) Trend Structure Remains Bullish

BTP TECHS
  • RES 4: 121.25 2.382 proj  of the Jun 11 - 21 - Jul 2 price swing
  • RES 3: 120.85 2.236 proj  of the Jun 11 - 21 - Jul 2 price swing
  • RES 2: 120.20 2.00 proj  of the Jun 11 - 21 - Jul 2 price swing
  • RES 1: 119.50/06 High Aug 29 / 22 and the bull trigger 
  • PRICE: 118.95 @ Close Sep 3
  • SUP 1: 118.24 Low Sep 2   
  • SUP 2: 117.36 Low Jul 26 and a key support 
  • SUP 3: 116.07 Low Jul 8
  • SUP 4: 114.72 Low Jul 2

The medium-term trend condition in BTP futures remains bullish and the latest move lower is considered corrective. Moving average studies are in a bull-mode set-up and a bullish trend sequence of higher highs and higher lows is intact. Note that the move down has resulted in a print below 118.44, the 50-day EMA. A clear break of the average would signal scope for a deeper retracement. Key resistance and bull trigger is 120.06, Aug 22 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.