Free Trial

TECHS: (U0) Dip Buying Fails to Materialize

BTPS
  • RES 4: 148.97 High Feb 13 (cont)
  • RES 3: 148.95 High Mar 4 (cont)
  • RES 2: 148.99 1.0% 10-dma envelope
  • RES 1: 148.16 High Aug 5
  • PRICE: 146.81 @ Close Aug 13
  • SUP 1: 146.37 Low Aug 3
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 144.92 Low Jul 20
  • SUP 4: 144.65 50-dma (cont)

Despite holding up for most of the week, BTP futures caught up with their fixed income counterparts Thursday, with prices breaking down after a tepid Italian auction. As a result, the recent bias of dip buying failed to materialize, pressuring BTPs to new weekly lows. MA studies remain bullish, but have weakened a touch due to this week's moderation. Initial firm support shifts lower to 146.37, Aug 3 low.

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.