Free Trial

(H3) Outlook Remains Bearish

BTP TECHS
  • RES 4: 117.93 High Dec 13
  • RES 3: 116.43 High Dec 15
  • RES 2: 113.34/115.01 High Dec 16 / Low Nov 28
  • RES 1: 111.81 High Dec 22
  • PRICE: 109.40 @ Close Dec 23
  • SUP 1: 109.22 Low Dec 27
  • SUP 2: 108.82 Low Oct 21 (cont)
  • SUP 3: 108.13 Low Sep 28 (cont) and a key support
  • SUP 4: 107.71 3.5 proj of the Dec 7 - 13 price swing

BTP futures remain soft following the latest bearish price action and Tuesday’s move lower highlights a continuation of the trend. The contract has recently cleared support at 115.01, the Nov 28 low and this strengthened bearish conditions. Attention is on 108.13, the Sep 28 low (cont) and a key support. On the upside, initial firm resistance is seen at 113.34, the 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.