Free Trial

TECHS: (M9) False Downside Break *RES 4:.......>

BTPS: TECHS: (M9) False Downside Break
*RES 4: 135.66 76.4% retracement of 141.19 - 117.77 (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: 130.00 High Mar 18 
*PRICE: 129.21 @ Close Apr 4 
*SUP 1: 128.50 Low Apr 4 
*SUP 2: 128.29 Low Mar 13 
*SUP 3: 127.57 Low Mar 7 
*SUP 4: 127.47 50-dma
BTP futures hit three week lows yesterday, temporarily breaking below their
range lows before recovering to return the focus back to the upside and the key
130 level. Bulls need a break above here to reignite upside momentum and open
the 61.8% retracement of 141.19-117.77 at 132.24 on the continuation chart. On
the downside yesterday's low at 128.50 acts as initial support below which would
create some downside momentum and bring the March 13 low at 128.29 into play.

To read the full story



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.