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Free Access(M3) Finds Support
- RES 4: 117.17 High Mar 24 and the bull trigger
- RES 3: 116.97 High Apr 6
- RES 2: 116.17 76.4% retracement of the Mar 24 - Apr 24 downleg
- RES 1: 115.19/84 High May 8 / 4
- PRICE: 114.82 @ Close May 10
- SUP 1: 113.91 Low May 10
- SUP 2: 113.70 Low May 2
- SUP 3: 112.93/89 Low Apr 24 / 61.8% of the Mar 2 - 24 rally
- SUP 4: 111.88 76.4% retracement of the Mar 2 - 24 rally
BTP futures remain in a short-term bull cycle and the latest pullback is still considered corrective. Initial support has been defined at 113.91, yesterday’s low. A stronger resumption of gains would open 116.17 next, a Fibonacci retracement. A break of this level would expose 116.97, the Apr 6 high ahead of key resistance at 117.17, the Mar 24 high. Weakness below 113.91 would signal scope for a deeper retracement.
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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.