Free Trial

(U2) Northbound

BTP TECHS
  • RES 4:131.61 High Apr 29 (cont)
  • RES 3: 131.24 High May 12 (cont)
  • RES 2: 130.00 Round number resistance
  • RES 1: 129.27 High Aug 2
  • PRICE: 127.47 @ Close Aug 2
  • SUP 1: 126.40/124.54 Low Aug 1 / 50-day EMA
  • SUP 2: 122.81/119.57 Low Jul 28 / Low Jul 21 and key S/T support
  • SUP 3: 118.60 Low Jun 22
  • SUP 4: 115.72 Low Jun 16

The BTP futures trend condition remains bullish and the contract traded higher again Tuesday. Recent gains have resulted in a break of key resistance at 126.41, Jul 1 high. The move reinforces conditions for bulls and highlights a broader bullish price sequence of higher highs and higher lows - the definition of an uptrend. Attention is on the 130.00 handle next. Initial firm support lies at 122.81, Jul 28 low. Key trend support is at 119.57, Jul 21 low.

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.