Free Trial

(M2) Fresh Cycle low

BTP TECHS
  • RES 4: 136.90 50-day EMA
  • RES 3: 136.12 High Apr 7
  • RES 2: 135.23 High Apr 14
  • RES 1: 133.3953/77 20-day EMA / High Apr 28
  • PRICE: 129.78 @ Close May 2
  • SUP 1: 129.50 Low May 2
  • SUP 2: 128.08 2.00 proj of the Mar 31 - Feb 16 - Mar 1 price swing
  • SUP 3: 127.63 1.00 proj of the Mar 1 - 29 - 31 price swing
  • SUP 4: 125.88 2.236 proj of the Mar 31 - Feb 16 - Mar 1 price swing

The trend condition in BTP futures remains bearish - yesterday’s move lower resulted in another fresh trend low print. This maintains the broader bearish price sequence of lower lows and lower highs that defines a downtrend. Moving average studies are in a bear mode too and the focus is on 128.08 next, a Fibonacci projection. Firm short-term resistance has been defined at 133.53, the Apr 28 high.

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.