Free Trial

(U1) Needle Points North

  • RES 4: 154.15 0.764 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 3: 153.35 0.618 proj of May 19 - Jun 14 - Jun 25 price swing
  • RES 2: 153.00 Round number resistance
  • RES 1: 152.82 Intraday high
  • PRICE: 152.64 @ 09:42 BST Jul 8
  • SUP 1: 151.54 Low Jul 6
  • SUP 2: 151.30 20-day EMA
  • SUP 3: 150.56 Low Jun 30
  • SUP 4: 149.97 Low Jun 25 and key short-term support

BTPs maintain a bullish theme. The climb this week has resulted in breach of key resistance at 152.47, Jun 14 high. The break higher confirms a resumption of the uptrend that started May 19 and paves the way for a stronger short-term recovery. Attention is on 153.00 and 153.35, a Fibonacci projection. Initial support is at Tuesday's 151.54 low. Key support has been defined at 149.97, Jun 25 low.

To read the full story



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.