Free Trial

(H1) Sharp Reversal

BTP TECHS
  • RES 4: 153.00 Round number resistance
  • RES 3: 152.67 Trend high print, Jan 8 and the bull trigger
  • RES 2: 151.70 High Jan 12
  • RES 1: 151.17 Low Dec 23
  • PRICE: 150.55 @ Close Jan 12
  • SUP 1: 150.47 Low Jan 12
  • SUP 2: 150.31 Low Dec 1 and a key support
  • SUP 3: 150.00 Round number support
  • SUP 4: 149.64 Low Nov 12 (cont)

BTP futures traded sharply lower yesterday confirming a top in the trend at 152.67, Jan 8 high. The move lower this week has seen the contract trade through both the 20- and 50-day EMAs, paving the way for a test of support at 150.31, Dec 1 low and an important chart point. Note, the move lower is viewed as a much needed correction allowing a recent overbought condition to unwind. Initial resistance is at 151.17, Dec 23 low.

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.