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BTP TECHS: (Z4) Fresh Trend High

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: 121.43 High Dec 27 ‘23 and a key resistance 
  • PRICE: 121.19 @ Close Sep 16
  • SUP 1: 119.81/118.16 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 Monday’s gains reinforce this condition. Last week’s break higher resulted in a breach of 120.34, the Sep 6 high. This confirms a resumption of the uptrend and extends the sequence of higher highs and higher lows. Sights are on 121.43 next, high Dec 27 ‘23 and a key resistance. Initial firm support lies at 119.81, 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: 121.43 High Dec 27 ‘23 and a key resistance 
  • PRICE: 121.19 @ Close Sep 16
  • SUP 1: 119.81/118.16 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 Monday’s gains reinforce this condition. Last week’s break higher resulted in a breach of 120.34, the Sep 6 high. This confirms a resumption of the uptrend and extends the sequence of higher highs and higher lows. Sights are on 121.43 next, high Dec 27 ‘23 and a key resistance. Initial firm support lies at 119.81, the 20-day EMA.