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BTP TECHS: (Z4) Bear Leg Extends

BTP TECHS
Fixed Income Technical AnalysisCEEMEAEurozoneItalyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 123.12 3.382 proj  of the Jun 11 - 18 - Jul 1 price swing 
  • RES 3: 122.78 3.236 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 2: 121.53/122.62 High Oct 25 / 1 and the bull trigger
  • RES 1: 119.97 Low Oct 11 and a recent breakout level 
  • PRICE: 118.93 @ Close Nov 6
  • SUP 1: 118.64 50.0% retracement of the Jun 11 - Oct 1 bull cycle    
  • SUP 2: 118.16 Low Sep 2  Low Jul 26    
  • SUP 3: 117.70 61.8% retracement of the Jun 11 - Oct 1 bull cycle
  • SUP 4: 117.34 Low Jul 26 

BTP futures maintains a softer tone, The contract traded sharply lower last week, clearing 119.97, the Oct 11 low. The break strengthens a bearish threat and highlights a possible reversal. Wednesday’s sell-off reinforces the bearish threat. Sights are on 118.64, a Fibonacci retracement point. Initial firm resistance has been defined at 121.53, the Oct 25 high, where a break is required to cancel the bearish threat. First resistance is 119.99, Nov 6 high.

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  • RES 4: 123.12 3.382 proj  of the Jun 11 - 18 - Jul 1 price swing 
  • RES 3: 122.78 3.236 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 2: 121.53/122.62 High Oct 25 / 1 and the bull trigger
  • RES 1: 119.97 Low Oct 11 and a recent breakout level 
  • PRICE: 118.93 @ Close Nov 6
  • SUP 1: 118.64 50.0% retracement of the Jun 11 - Oct 1 bull cycle    
  • SUP 2: 118.16 Low Sep 2  Low Jul 26    
  • SUP 3: 117.70 61.8% retracement of the Jun 11 - Oct 1 bull cycle
  • SUP 4: 117.34 Low Jul 26 

BTP futures maintains a softer tone, The contract traded sharply lower last week, clearing 119.97, the Oct 11 low. The break strengthens a bearish threat and highlights a possible reversal. Wednesday’s sell-off reinforces the bearish threat. Sights are on 118.64, a Fibonacci retracement point. Initial firm resistance has been defined at 121.53, the Oct 25 high, where a break is required to cancel the bearish threat. First resistance is 119.99, Nov 6 high.