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(Z1) Recovers Off Last Week's Low
- RES 4: 155.14 High Aug 31
- RES 3: 154.64 High Sep 22 / 23 and a key resistance
- RES 2: 153.59 High Sep 24
- RES 1: 151.77/153.12 50-day EMA / High Nov 10 and the bull trigger
- PRICE: 151.66 @ Close GMT Nov 26
- SUP 1: 149.59 Low Nov 24 and key support
- SUP 2: 149.41 61.8% retracement of the Nov 1 - 10 rally
- SUP 3: 148.54 76.4% retracement of the Nov 1 - 10 rally
- SUP 4: 147.12 Low Nov 1 and the bear trigger
BTP futures traded lower in the first half of last week. The move down resulted in a break of support at 150.72, Nov 12 low that undermines the recent bull theme. A deeper sell-off would open 149.41, a Fibonacci retracement level and potentially lower. However, the contract has bounced off 149.59, Nov 24 low. Key short-term resistance and the bull trigger is at 153.12, Nov 10 high. Initial resistance to watch is at 151.77, the 50-day EMA.
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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.