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BTP TECHS: (Z4) Within Range of Trend Highs

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: 121.59 High Sep 17 and key resistance  
  • PRICE: 121.02 @ 07:35 BST Sep 26
  • SUP 1: 120.29/17 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 M/T trend condition in BTP futures is bullish and recent fresh trend highs this week reinforce this condition. However, the strong reversal from the Sep 17 high, highlights the start of a correction and a deeper retracement would allow an overbought condition to unwind. Support to watch is 120.29, the 20-day EMA. A break would signal scope for a deeper retracement. On the upside, 121.59, the Sep 17 high, is the bull trigger. A break resumes the uptrend.

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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: 121.59 High Sep 17 and key resistance  
  • PRICE: 121.02 @ 07:35 BST Sep 26
  • SUP 1: 120.29/17 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 M/T trend condition in BTP futures is bullish and recent fresh trend highs this week reinforce this condition. However, the strong reversal from the Sep 17 high, highlights the start of a correction and a deeper retracement would allow an overbought condition to unwind. Support to watch is 120.29, the 20-day EMA. A break would signal scope for a deeper retracement. On the upside, 121.59, the Sep 17 high, is the bull trigger. A break resumes the uptrend.