Free Trial

(H2) Trend Conditions Remain Bearish

BTP TECHS
  • RES 4: 149.22 High Dec 22
  • RES 3: 148.02 High Dec 29
  • RES 2: 147.18 20-day EMA
  • RES 1: 146.36/147.00 High Jan 12 / High Jan 4
  • PRICE: 146.14 @ Close Jan 12
  • SUP 1: 145.12 Low Jan 10
  • SUP 2: 144.90 2.618 proj of the Dec 6 - 18 - 14 price swing
  • SUP 3: 144.59 2.764 proj of the Dec 6 - 18 - 14 price swing
  • SUP 4: 144.00 round number support

The recent bounce in BTP futures is considered corrective. The contract traded lower last week and registered a fresh low print Monday. Futures recently cleared support at 148.25, Dec 1 low as well as the 147.36 key support, Nov 24 low. The contract has also this week traded below key support at 145.29, Nov 1 low. A clear break of this level would strengthen bearish conditions. Firm firm resistance is seen at 147.18, 20-day EMA.

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.