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Free Access(Z1) Bearish Focus
- RES 4: 155.71 High Aug 5 and the bull trigger (cont)
- RES 3: 155.68 High Aug 25
- RES 2: 155.14 High Aug 31
- RES 1: 154.63 High Sep 14 and key near-term resistance
- PRICE: 154.15 @ Close Sep 21
- SUP 1: 153.36 Low Sep 17
- SUP 2: 152.94/84 Low Sep 9 / 50.0% of Jun 25 - Aug 5 rally (cont)
- SUP 3: 152.66 Low Jul 15 (cont)
- SUP 4: 152.16 61.8% retracement of the Jun 25 - Aug 5 rally (cont)
BTP futures remain below recent highs. Trend conditions are bearish and recent gains are considered corrective. A price sequence of lower lows and lower highs that highlights a bearish theme remains intact. The focus is on 152.84 next, a Fibonacci retracement and below. On the upside, a resumption of gains would open resistance at 155.14, Aug 31 high. The bear trigger is unchanged at 152.94, Sep 7 low.
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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.