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Free Access(U4) Bull Cycle Remains In Play
- RES 4: 119.55 1.764 proj of the Jun 11 - 21 - Jul 2 price swing
- RES 3: 119.00 Round number resistance
- RES 2: 118.58 High May 16 and a key resistance
- RES 1: 117.99 High Jul 11
- PRICE: 117.72 @ Close Jul 12
- SUP 1: 116.55 20-day EMA
- SUP 2: 116.07 Low Jul 8
- SUP 3: 114.72 Low Jul 2
- SUP 4: 114.35 Low Jun 11 and key support
BTP futures have recovered from 114.72, the Jul 2 low. Last week’s gains resulted in a break of resistance at 117.09, the Jun 21 high, and firmer resistance at 117.62, the Jun 5 high. This undermines a recent bearish theme and signals scope for a climb towards 118.58, the May 16 high and a key resistance. Initial support lies at 116.55, the 20-day EMA. A clear break of it would highlight a potential reversal.
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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.