Free Trial

TECHS: (M0) Looking For Gains *RES 4: 140.64...>

BTPS
BTPS: TECHS: (M0) Looking For Gains
*RES 4: 140.64 High Apr 14
*RES 3: 139.67/77 50-day EMA / High Apr 30 and bull trigger
*RES 2: 139.02 High May 5
*RES 1: 138.59 High May 11
*PRICE: 138.14 @ Close May 14
*SUP 1: 135.43 Low May 8 and key near-term support
*SUP 2: 134.61 Low Apr 24
*SUP 3: 132.61 Low Apr 22 and the bear trigger
*SUP 4: 132.30 61.8% retracement of Mar 18 - 27 rally
BTPS futures found support last week at 135.43, May 7 low. The recovery off this
level leaves the important near-term support at 134.61, Apr 24 low intact.
Although consolidating for now, the technical picture appears positive however,
to confirm and reinstate a bullish theme price needs to clear resistance at
139.77, Apr 30 high. A failure to hold above support at 135.43 would again leave
134.61 exposed ahead of the key support at 132.61, Apr 22 low. Bullish!

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.