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(M2) Outlook Remains Bullish

  • RES 4: 149.22 High Dec 22 2021 (cont)
  • RES 3: 148.00 Round number resistance
  • RES 2: 147.93 High Jan 31 and key near-term resistance
  • RES 1: 146.74 High Mar 1
  • PRICE: 144.65 @ Close Mar 4
  • SUP 1: 142.51 Low Mar 1
  • SUP 2: 140.54 Low Feb 28
  • SUP 3: 138.99 Low Feb 22
  • SUP 4: 138.60 Low Feb 16 and key support

The BTP futures short-term outlook remains bullish following strong gains on Mar 3 as the contract extended the retracement of the Jan 31 - Feb 16 downleg. Price has breached 145.73, 76.4% of the Jan 31 - Feb 16 downleg. This has opened 147.93 next, the Jan 31 high. A break of 147.93 would further strengthen the current bullish condition. Firm support is seen at 142.51, the Mar 3 low.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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