Free Trial

(H1) Trend High Print

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: 152.50 Trend high print, Dec 17
  • PRICE: 152.08 @ Close Dec 17
  • SUP 1: 151.86 Low Dec 16
  • SUP 2: 151.38 Low Dec 10 and key near-term support
  • SUP 3: 150.93 Low Dec 3
  • SUP 4: 150.31 Low Dec 1 and key support

BTPS is bullish despite yesterday's pullback following a fresh trend high print of 151.50. The recent break of 151.54, Nov 30 high confirmed an end to a corrective cycle and the underlying uptrend resumed. Trend conditions remain positive and price has this week maintained the sequence of higher highs and higher lows. The focus is on 152.77 next, a Fibonacci retracement projection. Initial firm support lies at 151.38, Dec 10 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.