Free Trial

(H4) Bear Threat Still Present

BTP TECHS
  • RES 4: 121.43 High 27 and a key resistance
  • RES 3: 120.40 High Dec 29
  • RES 2: 119.77 High Jan 4
  • RES 1: 119.27 High Jan 30 and key near-term resistance
  • PRICE: 117.82 @ Close Mar 1
  • SUP 1: 116.50 Low Feb 22
  • SUP 2: 115.70 Low Dec 8
  • SUP 3: 114.10 50.0% retracement of the Oct 19 - Dec 27 bull cycle
  • SUP 4: 113.31 Low Nov 28

The trend condition in BTP futures remains bearish and short-term gains are considered corrective. Key support at 116.98, the Jan 25 low, has recently been cleared. The break signals a resumption of the bear cycle and sights are on 115.70, the Dec 8 low. Firm resistance has been defined at 119.27, the Jan 30 high. Clearance of this level would signal scope for a stronger recovery instead.

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.