Free Trial

TECHS: (Z0) Bull Trend Extends

BTPS
  • RES 4: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 3: 150.37 Bull channel top drawn off the Sep 8 low
  • RES 2: 150.00 Psychological round number
  • RES 1: 149.01 High Oct 8
  • PRICE: 149.47 @ Close Oct 9
  • SUP 1: 148.67 Bull Channel support drawn off the Aug 9 low
  • SUP 2: 148.15 Low Oct 2
  • SUP 3: 147.75 Low 20-day EMA
  • SUP 4: 147.32 Low Sep 28 and key near-term support

BTPS continues to extend gains, touching a fresh all-time high print of 149.55 Friday. The move higher again confirms a resumption of the underlying bull trend and maintains the clear positive price sequence of higher highs and higher lows. With futures in uncharted territory, Fibonacci projections highlight potential for a climb towards 151.17. The initial objective is the psychological 150.00 handle. Initial support lies at 148.68, bull channel support.

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.