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BTP TECHS: (Z4) Bullish Trend Sequence

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: 121.90 High Sep 27
  • PRICE: 121.47 @ Close Sep 30
  • 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 last week’s fresh cycle highs reinforces this condition. The contract has traded through 121.59, the Sep 17 high, confirming a resumption of the trend and this maintains the sequence of higher highs and higher lows. Scope is seen for a climb towards 122.22 next, a Fibonacci projection. Support to watch is 120.58, 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: 121.90 High Sep 27
  • PRICE: 121.47 @ Close Sep 30
  • 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 last week’s fresh cycle highs reinforces this condition. The contract has traded through 121.59, the Sep 17 high, confirming a resumption of the trend and this maintains the sequence of higher highs and higher lows. Scope is seen for a climb towards 122.22 next, a Fibonacci projection. Support to watch is 120.58, the 20-day EMA.