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MNI China Daily Summary: Friday, Nov 24

MNI BRIEF: Belt And Road To Promote Economic Integration

PBOC Injects Net CNY312 Bln Fri; Rates Unchanged

GERMANY NOV IFO CURRENT COND  89.4

MNI: GERMANY NOV IFO BUSINESS CLIMATE INDEX 87.3

UK Timeline of Key Events (All Times in GMT)

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

(Z3) Breaches Key Support

BTP TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income News
  • RES 4: 113.84 High Sep 14
  • RES 3: 112.52 High Sep 20
  • RES 2: 110.66 20-day EMA
  • RES 1: 109.98 High Sep 29
  • PRICE: 109.09 @ 17:13 Oct 9
  • SUP 1: 107.62 Low Oct 4
  • SUP 2: 107.08 2.236 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
  • SUP 3: 106.40 2.382 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
  • SUP 4: 105.85 2.50 proj of the Jun 26 - Jul 11 - 19 price swing (cont)

BTP futures traded lower last week and breached support at 108.08, the Sep 28 low. This confirms a clear break of the Sep 28 ‘22 low of 108.13 - a major support. The move lower reinforces bearish conditions and opens 107.08 next, a Fibonacci projection on the continuation chart. On the upside, resistance is at 109.98, the Sep 29 high. Short-term gains would be considered corrective.

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  • RES 4: 113.84 High Sep 14
  • RES 3: 112.52 High Sep 20
  • RES 2: 110.66 20-day EMA
  • RES 1: 109.98 High Sep 29
  • PRICE: 109.09 @ 17:13 Oct 9
  • SUP 1: 107.62 Low Oct 4
  • SUP 2: 107.08 2.236 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
  • SUP 3: 106.40 2.382 proj of the Jun 26 - Jul 11 - 19 price swing (cont)
  • SUP 4: 105.85 2.50 proj of the Jun 26 - Jul 11 - 19 price swing (cont)

BTP futures traded lower last week and breached support at 108.08, the Sep 28 low. This confirms a clear break of the Sep 28 ‘22 low of 108.13 - a major support. The move lower reinforces bearish conditions and opens 107.08 next, a Fibonacci projection on the continuation chart. On the upside, resistance is at 109.98, the Sep 29 high. Short-term gains would be considered corrective.