Free Trial

TECHS: (U9) Key support holds *RES 4: 141.71...>

BTPS
BTPS: TECHS: (U9) Key support holds
*RES 4: 141.71 High Aug 7 and key resistance
*RES 3: 141.00 High Aug 8
*RES 2: 139.47 Low Aug 8 and gap high
*RES 1: 139.34 High Aug 13
*PRICE: 139.26 @ Close Aug 13
*SUP 1: 137.36 Low Aug 12
*SUP 2: 136.91 Low Aug 9
*SUP 3: 136.64 50-day EMA
*SUP 4: 135.51 Low Jul 2
U9 BTPS rallied yesterday. This is encouraging for bulls given that the band of
support between 137.03 and 136.64 remains intact. The former is the Jul 10 low
and the latter the 50-day EMA. An extension higher would reinforce the idea that
the recent sell-off, a correction, is complete and the focus would switch to
resistance and key bull trigger at 141.71. A breach of the recent 136.91 low and
an erosion of the 50-day EMA is required to expose a deeper retracement.

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.