Free Trial

TECHS: (Z0) Corrective Pullback

BTPS
  • RES 4: 152.00 Round number resistance
  • RES 3: 151.29 Bull channel top drawn off the Sep 8 low
  • RES 2: 151.17 0.764 of Jun 10 - Aug 20 swing from Sep 9 low (cont)
  • RES 1: 150.43 High Oct 13
  • PRICE: 149.60 @ Close Oct 15
  • SUP 1: 149.01 Low Oct 15
  • SUP 2: 148.47 20-day EMA
  • SUP 3: 147.32 Low Sep 28 and key near-term support
  • SUP 4: 146.98 Low Sep 22

BTPS maintains a bullish tone. Resistance appeared yesterday though and futures traded lower in a move that is likely a correction. This week's gains have seen the contract extend higher into uncharted territory and maintain the bullish price sequence of higher highs and higher lows. Resistance and the bull trigger have been defined at 150.43, yesterday's high. Initial support lies at yesterday's low of 149.01.

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.