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Spills Above Week’s High


Canada Cancels Planned Long Bond Sale

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(U1) Just Off Contract Highs

  • RES 4: 156.73 1.236 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 3: 156.48 3.0% Upper Bollinger Band
  • RES 2: 155.76 1.0% 10-dma envelope
  • RES 1: 155.71 High Aug 04
  • PRICE: 155.19 @ 17:24 BST Aug 10
  • SUP 1: 153.16/152.65 20-day EMA / Low Jul 14
  • SUP 2: 152.59 Bull channel base drawn off the May 19 low
  • SUP 3: 151.93/54 Low Jul 8 / Low Jul 6
  • SUP 4: 151.19 High Jul 1

BTPs further cemented the uptrend mid-last week, extending the gains to hit fresh alltime highs. Friday's price action was less constructive, but a bullish outlook remains intact. A positive outlook follows the recent resumption of the uptrend that started May 19 - gains on Jul 6 and 7 resulted in a breach of a former key resistance at 152.47, Jun 14 high and established a bullish price sequence of higher highs and higher lows. Subsequent gains reinforce the positive theme and attention is on vol band resistance layered between 155.76 - 156.73.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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