Free Trial

(H1) Fresh Trend High

BTP TECHS
  • RES 4: 153.09 1.00 proj of Jun 10 - Aug 20 rally from Sep 9 (cont)
  • RES 3: 153.00 Round number resistance
  • RES 2: 152.77 138.2% retracement proj of the Nov 30 - Dec 1 sell-off
  • RES 1: 152.67 Trend high print, Jan 8
  • PRICE: 152.34 @ Close Jan 8
  • SUP 1: 151.28/17 Low Jan 6 / Low Dec 23
  • SUP 2: 151.01 Low Dec 8
  • SUP 3: 150.87 50-day EMA (cont)
  • SUP 4: 150.31 Low Dec 1 and key support

BTP futures traded higher Friday extending the recovery off 151.28, Jan 6 low. The move saw price trade above the former trend high of 152.50, Dec 17 high to confirm a resumption of the underlying uptrend and mark the end of the recent corrective phase. This signals scope for a climb towards 152.77 next, a Fibonacci projection ahead of 153.00. On the downside, a break of 151.28 is required to reinstate a short-term bearish risk.

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.