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BTP TECHS: (Z4) Bull Cycle Extension

BTP TECHS
Fixed Income Technical AnalysisCEEMEAEurozoneItalyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 123.40 3.500 proj  of the Jun 11 - 18 - Jul 1 price swing 
  • RES 3: 123.12 3.382 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 2: 122.78 3.236 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 1: 122.570 Intraday high 
  • PRICE: 122.55 @ Close Oct 1
  • SUP 1: 120.58/17 20-day EMA / Low Sep 19     
  • SUP 2: 119.32 Low Sep 9   
  • SUP 3: 118.85 Low Sep 4
  • SUP 4: 118.16 Low Sep 2 and key support

The medium-term trend condition in BTP futures is bullish and today’s rally reinforces this theme. The contract has cleared key short-term resistance at 121.59, the Sep 17 high, confirming a resumption of the uptrend. This maintains the sequence of higher highs and higher lows. The break higher paves the way for a climb towards 122.78, a Fibonacci projection. On the downside, initial firm support lies at 120.58, the 20-day EMA.

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  • RES 4: 123.40 3.500 proj  of the Jun 11 - 18 - Jul 1 price swing 
  • RES 3: 123.12 3.382 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 2: 122.78 3.236 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 1: 122.570 Intraday high 
  • PRICE: 122.55 @ Close Oct 1
  • SUP 1: 120.58/17 20-day EMA / Low Sep 19     
  • SUP 2: 119.32 Low Sep 9   
  • SUP 3: 118.85 Low Sep 4
  • SUP 4: 118.16 Low Sep 2 and key support

The medium-term trend condition in BTP futures is bullish and today’s rally reinforces this theme. The contract has cleared key short-term resistance at 121.59, the Sep 17 high, confirming a resumption of the uptrend. This maintains the sequence of higher highs and higher lows. The break higher paves the way for a climb towards 122.78, a Fibonacci projection. On the downside, initial firm support lies at 120.58, the 20-day EMA.