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Free Access(M2) Key Support Remains Exposed
- RES 4: 147.93 High Jan 31 and key near-term resistance
- RES 3: 146.74 High Mar 1
- RES 2: 145.06 High Mar 8
- RES 1: 141.45/43.85 20-day EMA / High Mar 10
- PRICE: 138.89@ Close Mar 17
- SUP 1: 138.99 Low Feb 22
- SUP 2: 138.60 Low Feb 16 and the bear trigger
- SUP 3: 138.00 Round number support
- SUP 4: 137.52 Low May 18 2020 (cont)
BTP futures are consolidating but remain vulnerable The recent break of support at 142.51, Mar 1 low, signalled an important intraday breach that resulted in a move below 140.52, the 76.4% retracement of the Feb 16 - Mar 1 rally. This, together with the recent follow through, suggests scope for a continuation lower and has exposed key support at 138.60, Feb 16 low and a bear trigger. Initial firm resistance is seen at 143.85, Mar 10 high.
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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.