Free Trial

(M3) Eyeing Key Support

BTP TECHS
  • RES 4: 116.97 High Apr 6
  • RES 3: 116.17 76.4% retracement of the Mar 24 - Apr 24 downleg
  • RES 2: 115.48/89 High May 16 / 11
  • RES 1: 114.65 High May 22
  • PRICE: 113.55 @ Close May 25
  • SUP 1: 112.93/89 Low Apr 24 / 61.8% of the Mar 2 - 24 rally
  • SUP 2: 111.88 76.4% retracement of the Mar 2 - 24 rally
  • SUP 3: 111.05 Low Mar 8
  • SUP 4: 110.79 Low Mar 7

A bearish threat in BTP futures remains present. The contract has recently traded through both the 20- and 50-day EMAs. Support at 113.91, the May 10 low, has also been breached. This signals scope for an extension lower towards key support at 112.93, the Apr 24 low. A breach of this level would strengthen bearish conditions. Key short-term resistance is at 115.89, the May 11 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.