Free Trial

TECHS: (U0) Support Holds

BTPS
  • RES 4: 150.00 Psychological round number
  • RES 3: 148.97 High Feb 13 (cont)
  • RES 2: 148.95 1.0% 10-dma envelope
  • RES 1: 148.17 High Aug 11 and the bull trigger
  • PRICE: 147.83 @ Close Aug 17
  • SUP 1: 146.37 Low Aug 3 and key near-term support
  • SUP 2: 145.62 Low Jul 21
  • SUP 3: 144.92 Low Jul 20
  • SUP 4: 145.00 50-dma

BTP futures traded higher yesterday extending the bounce off Friday's low of 146.41. From a trend perspective, underlying bullish conditions remain intact. Importantly, support at 146.37, Aug 3 low has held. A break of this level would undermine bullish conditions and warn of a possible top. On the upside, key resistance and the trigger for a resumption of gains is at 148.17, Aug 11 high.

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.