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BTP TECHS: (Z4) Bull Cycle Remains In Play 

BTP TECHS
Fixed Income Technical AnalysisCEEMEAEurozoneItalyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 122.78 3.236 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 3: 122.22 3.00 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 2: 122.00 Round number resistance
  • RES 1: 121.66 2.764 proj  of the Jun 11 - 18 - Jul 1 price swing 
  • PRICE: 121.02 @ Close Sep 17
  • SUP 1: 119.93/118.16 20-day EMA / Low Sep 2 and the bear trigger    
  • SUP 2: 118.00 Low Jul 29 
  • SUP 3: 116.21 Low Jul 9
  • SUP 4: 115.14 Low Jul 1

The medium-term trend condition in BTP futures remains bullish and this week’s move higher reinforces this condition. The contract has breached 121.43, the Dec 27 ‘23 high (cont) and a key resistance. This strengthens the uptrend and confirms an extension of the price sequence of higher highs and higher lows. Sights are on the 122.00 handle. Initial firm support lies at 119.93, the 20-day EMA.

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  • RES 4: 122.78 3.236 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 3: 122.22 3.00 proj  of the Jun 11 - 18 - Jul 1 price swing
  • RES 2: 122.00 Round number resistance
  • RES 1: 121.66 2.764 proj  of the Jun 11 - 18 - Jul 1 price swing 
  • PRICE: 121.02 @ Close Sep 17
  • SUP 1: 119.93/118.16 20-day EMA / Low Sep 2 and the bear trigger    
  • SUP 2: 118.00 Low Jul 29 
  • SUP 3: 116.21 Low Jul 9
  • SUP 4: 115.14 Low Jul 1

The medium-term trend condition in BTP futures remains bullish and this week’s move higher reinforces this condition. The contract has breached 121.43, the Dec 27 ‘23 high (cont) and a key resistance. This strengthens the uptrend and confirms an extension of the price sequence of higher highs and higher lows. Sights are on the 122.00 handle. Initial firm support lies at 119.93, the 20-day EMA.