Free Trial

TECHS:(M9) Downside Risks Rising *RES 4:.......>

BTPS
BTPS: TECHS:(M9) Downside Risks Rising
*RES 4: 134.82 Low Jan 2, 2018 (continuation chart) 
*RES 3: 132.88 High May 28 (continuation chart) 
*RES 2: 132.24 61.8% retracement of 141.19 - 117.77 (continuation chart) 
*RES 1: 130.96/131.12 High May 2/April 12 
*PRICE: 129.52 @ Close May 10 
*SUP 1: 129.19 Low May 8 
*SUP 2: 129.05/01 55-dma/Low Apr 25 
*SUP 3: 128.50 Low Apr 4 
*SUP 4: 128.29 Low Mar 13
BTP futures were able to hold above Wednesday's low on Friday but recovery
efforts have been lacking keeping the focus on the downside. A break below
129.19 would shift the outlook firmly bearish opening the 55-dma/April 25 low at
129.05/01. Below here would suggest a large tapping pattern is in play. Bulls
look to the May 2/April 12 highs at 130.96/131.12. A break above here would
improve the outlook opening the 61.8% retracement at 132.24.

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.