Free Trial

(H4) Bulls Remain In The Driver’s Seat

BTP TECHS
  • RES 4: 118.00 Round number resistance
  • RES 3: 117.81 1.618 proj of the Nov 10 - 17 - 24 price swing
  • RES 2: 117.44 1.50 proj of the Nov 10 - 17 - 24 price swing
  • RES 1: 117.22 High Dec 7 and the bull trigger
  • PRICE: 116.37 @ Close Dec 12
  • SUP 1: 114.70/114.13 20-day EMA / Low Nov 30
  • SUP 2: 112.70 Low Nov 24 and a key support
  • SUP 3: 111.53 Low Nov 14
  • SUP 4: 110.50 Low Nov 7

A bull cycle in BTP futures remains in play and recent gains reinforced the bullish condition. The break of resistance at 114.11, Nov 17 high, confirmed a resumption of the uptrend that started Oct 19. Potential is for a climb towards 117.44 next, a Fibonacci projection. Key short-term trend support has been defined at 112.70, the Nov 24 low. Initial support is at 114.70, the 20-day EMA. A move lower would be considered corrective.

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.