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BTP TECHS: (H5) Bears Remain In The Driver’s Seat

BTP TECHS
Fixed Income Technical AnalysisCEEMEAEurozoneItalyBulletMarketsFixed Income Bullets
  • RES 4: 123.34 High Dec 11 and key resistance     
  • RES 3: 122.85 High Dec 12  
  • RES 2: 121.94 High Dec 13  
  • RES 1: 120.70/121.03 High Dec 20 / 20-day EMA   
  • PRICE: 119.98 @ Close Dec 30 
  • SUP 1: 119.41 Low Dec 27         
  • SUP 2: 119.11 Low Nov 18   
  • SUP 3: 118.80 76.4% retracement of the Nov 7 - Dec 11 bull cycle
  • SUP 4: 118.51 Low Nov 8     

A corrective cycle in BTP futures has resulted in a pullback from its recent highs and the Dec 27 sell-off highlights an extension of the current bear cycle.  The contract has recently breached the 20-day EMA and sights are on 118.80, a Fibonacci retracement point. Key resistance and the bull trigger has been defined at 123.34, the Dec 11 high. Initial firm resistance is seen at 121.03, the 20-day EMA.

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  • RES 4: 123.34 High Dec 11 and key resistance     
  • RES 3: 122.85 High Dec 12  
  • RES 2: 121.94 High Dec 13  
  • RES 1: 120.70/121.03 High Dec 20 / 20-day EMA   
  • PRICE: 119.98 @ Close Dec 30 
  • SUP 1: 119.41 Low Dec 27         
  • SUP 2: 119.11 Low Nov 18   
  • SUP 3: 118.80 76.4% retracement of the Nov 7 - Dec 11 bull cycle
  • SUP 4: 118.51 Low Nov 8     

A corrective cycle in BTP futures has resulted in a pullback from its recent highs and the Dec 27 sell-off highlights an extension of the current bear cycle.  The contract has recently breached the 20-day EMA and sights are on 118.80, a Fibonacci retracement point. Key resistance and the bull trigger has been defined at 123.34, the Dec 11 high. Initial firm resistance is seen at 121.03, the 20-day EMA.