Free Trial

(U2) Remains Above Support

BTP TECHS
  • RES 4: 130.00 Round number resistance
  • RES 3: 129.00 High May 12
  • RES 2: 127.79 High May 26
  • RES 1: 124.79/126.41 High Jul 20 / High Jul 1 and the bull trigger
  • PRICE: 124.17 @ Close Jul 26
  • SUP 1: 119.57 Low Jul 21 and key near-term support
  • SUP 2: 118.60 Low Jun 22
  • SUP 3: 115.72 Low Jun 16
  • SUP 4: 113.78 Contract Low

The BTP futures short-term trend condition remains bullish. The contract found support last week at 119.57, the Jul 22 low. This level has been defined as a key short-term support and if breached, would highlight a stronger reversal. An extension higher would refocus attention on key resistance at 126.41, the Jul high and bull trigger. A break would resume the uptrend and pave the way for a climb towards 127.79, the May 26 high.

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.