Free Trial

TECHS:(Z18) 100-DMA Support Holds Firm *RES....>

BTPS
BTPS: TECHS:(Z18) 100-DMA Support Holds Firm
*RES 4: 132.88 High May 28 (Continuation chart) 
*RES 3: 129.97 High July 19 (Continuation chart) 
*RES 2: 128.02 High July 17 
*RES 1: 127.70 High Sep 18 
*PREVIOUS CLOSE: 126.40 
*SUP 1: 125.17 100-dma 
*SUP 2: 124.38 55-dma 
*SUP 3: 123.30 High Aug 22 now support 
*SUP 4: 120.47 Low Sep 3 
Early weakness in Dec-18 BTP futures found strong support at the 100-dma, which
keeps the broader bullish trend alive and allows bulls to target the Sep 18 high
of 127.70. A break above here would shift the focus back to the July 17 high
which would potentially trigger a large double bottom formation, turning the
medium-term outlook bullish. Bears need a close below the 100-dma at 125.17 to
suggest a bearish reversal is in play.

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.