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BTP TECHS: (Z4) Rally Extends

BTP TECHS
Fixed Income Technical AnalysisCEEMEAEurozoneItalyBulletMarketsFixed Income Bullets
  • RES 4: 123.00 Round number resistance   
  • RES 3: 122.62 High Oct 1 and a key resistance
  • RES 2: 122.41 High Oct 18 / 21  
  • RES 1: 121.50 76.4% retracement of the Oct 1 - Nov 7 bear leg 
  • PRICE: 121.29 @ Close Nov 25
  • SUP 1: 120.32 20-day EMA      
  • SUP 2: 119.63 Low Nov 18    
  • SUP 3: 119.12 Low Nov 13 
  • SUP 4: 117.88 Low Nov 7 and a key support  

BTP futures traded higher Monday as the contract extends the  current bull phase. Gains are still considered corrective, however, the recovery has exposed resistance at 121.50, the 76.4% retracement of the Oct 1 - Nov 7 bear leg. A clear break of this level would signal scope for a full retracement back to 122.62, the Oct 1 high. Initial firm support to watch lies at 119.63, the Nov 18 low. A break of this level would be viewed as a bearish development.

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  • RES 4: 123.00 Round number resistance   
  • RES 3: 122.62 High Oct 1 and a key resistance
  • RES 2: 122.41 High Oct 18 / 21  
  • RES 1: 121.50 76.4% retracement of the Oct 1 - Nov 7 bear leg 
  • PRICE: 121.29 @ Close Nov 25
  • SUP 1: 120.32 20-day EMA      
  • SUP 2: 119.63 Low Nov 18    
  • SUP 3: 119.12 Low Nov 13 
  • SUP 4: 117.88 Low Nov 7 and a key support  

BTP futures traded higher Monday as the contract extends the  current bull phase. Gains are still considered corrective, however, the recovery has exposed resistance at 121.50, the 76.4% retracement of the Oct 1 - Nov 7 bear leg. A clear break of this level would signal scope for a full retracement back to 122.62, the Oct 1 high. Initial firm support to watch lies at 119.63, the Nov 18 low. A break of this level would be viewed as a bearish development.