Free Trial

TECHS: (H0) Bullish Following Range Breakout...>

BTPS
BTPS: TECHS: (H0) Bullish Following Range Breakout
*RES 4: 148.00 Round number resistance
*RES 3: 147.86 2.764 projection of Jan 2 - Jan 10 rally from Jan 22 low
*RES 2: 147.54 2.618 projection of Jan 2 - Jan 10 rally from Jan 22 low
*RES 1: 147.37 High Jan 28
*PRICE: 146.960 @ Close Jan 28
*SUP 1: 145.55 Low Jan 27 and gap low on daily chart
*SUP 2: 144.71 High Jan 24 and gap high on daily chart
*SUP 3: 143.83 Low Jan 24
*SUP 4: 143.18 Low Jan 23
H0 BTPS exploded higher Monday clearing a host of resistance levels. Futures
have confirmed a clear break of key resistance at 144.45, the Dec 12 high and
the top of the range that had been in place since Nov 26. The range breakout
highlights a clear reversal of the downtrend since the Sep 2019 highs. Attention
is on 147.54 next, a Fibonacci projection level. Initial support is Monday's low
and gap high at 145.55. Pullbacks would be considered corrective.

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.