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(M2) Trend Conditions Remain Bearish

BTP TECHS
Fixed Income Technical Analysismarkets-real-timeBulletMarketsFixed Income
  • RES 4: 137.74 50-day EMA
  • RES 3: 136.12 High Apr 7
  • RES 2: 134.48/135.23 20-day EMA / High Apr 14
  • RES 1: 133.61 Trendline resistance drawn from the Mar 1 high
  • PRICE: 132.54 @ Close Apr 27
  • SUP 1: 131.30 Low Apr 22
  • SUP 2: 131.00 Round number support
  • SUP 3: 130.24 0.764 proj of the Mar 1 - 29 - 31 price swing
  • SUP 4: 130.00 Psychological round number

The trend condition in BTP futures remains bearish. Fresh cycle lows last week confirmed a continuation of the broader bearish price sequence of lower lows and lower highs, that defines a downtrend. Moving average studies are in a bear mode too. The focus is on the 130.00 handle next and key trend resistance is unchanged at 138.68, the Mar 31 high. The 20-day EMA, at 134.48, marks the initial firm resistance.

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  • RES 4: 137.74 50-day EMA
  • RES 3: 136.12 High Apr 7
  • RES 2: 134.48/135.23 20-day EMA / High Apr 14
  • RES 1: 133.61 Trendline resistance drawn from the Mar 1 high
  • PRICE: 132.54 @ Close Apr 27
  • SUP 1: 131.30 Low Apr 22
  • SUP 2: 131.00 Round number support
  • SUP 3: 130.24 0.764 proj of the Mar 1 - 29 - 31 price swing
  • SUP 4: 130.00 Psychological round number

The trend condition in BTP futures remains bearish. Fresh cycle lows last week confirmed a continuation of the broader bearish price sequence of lower lows and lower highs, that defines a downtrend. Moving average studies are in a bear mode too. The focus is on the 130.00 handle next and key trend resistance is unchanged at 138.68, the Mar 31 high. The 20-day EMA, at 134.48, marks the initial firm resistance.