BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI BRIEF: Limited Economic Impact Of French Crisis - EC

MNI INTERVIEW2: Riksbank Sales Boosting Liquidity - Debt Head

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI: US JOBLESS CLAIMS +9K TO 224K IN NOV 30 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BTP TECHS: (Z4) Resistance At The 50-Day EMA Has Been Pierced

BTP TECHS
Fixed Income Technical AnalysisCEEMEAEurozoneItalyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 122.62 High Oct 1 and a key resistance   
  • RES 3: 121.50 76.4% retracement of the Oct 1 - Nov 7 bear leg
  • RES 2: 120.81 61.8% retracement of the Oct 1 - Nov 7 bear leg   
  • RES 1: 120.69 High Nov 15  
  • PRICE: 120.47 @ Close Nov 15
  • SUP 1: 119.12/117.88 Low Nov 13 / 7 and the bear trigger     
  • SUP 2: 117.70 61.8% retracement of the Jun 11 - Oct 1 bull cycle   
  • SUP 3: 117.34 Low Jul 26
  • SUP 4: 116.54 76.4% retracement of the Jun 11 - Oct 1 bull cycle

BTP futures traded higher last week. Despite the latest bounce, the contract maintains a bearish tone. A resumption of the downtrend would refocus attention on 117.70, a Fibonacci retracement point. Initial support to watch is 119.12, the Nov 13 low. 120.25, the 50-day EMA, has been pierced, a clear break of the average would cancel the bearish threat. This would open 121.50, a Fibonacci retracement point.  

158 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • RES 4: 122.62 High Oct 1 and a key resistance   
  • RES 3: 121.50 76.4% retracement of the Oct 1 - Nov 7 bear leg
  • RES 2: 120.81 61.8% retracement of the Oct 1 - Nov 7 bear leg   
  • RES 1: 120.69 High Nov 15  
  • PRICE: 120.47 @ Close Nov 15
  • SUP 1: 119.12/117.88 Low Nov 13 / 7 and the bear trigger     
  • SUP 2: 117.70 61.8% retracement of the Jun 11 - Oct 1 bull cycle   
  • SUP 3: 117.34 Low Jul 26
  • SUP 4: 116.54 76.4% retracement of the Jun 11 - Oct 1 bull cycle

BTP futures traded higher last week. Despite the latest bounce, the contract maintains a bearish tone. A resumption of the downtrend would refocus attention on 117.70, a Fibonacci retracement point. Initial support to watch is 119.12, the Nov 13 low. 120.25, the 50-day EMA, has been pierced, a clear break of the average would cancel the bearish threat. This would open 121.50, a Fibonacci retracement point.