BTP TECHS: (Z5) Range Parameters Intact For Now
- RES 4: 122.56 0.764 proj of the Apr 9 - May 8 - 14 price swing (cont)
- RES 3: 121.88 0.618 proj of the Apr 9 - May 8 - 14 price swing (cont)
- RES 2: 121.00 Round number resistance
- RES 1: 120.43/120.74 High Oct 8 & 9 / High Aug 5 and the bull trigger
- PRICE: 120.08 @ Close Oct 9
- SUP 1: 119.07/118.36 Low Sep 25 / 3 and key support
- SUP 2: 118.00 Round number support
- SUP 3: 117.70 2.236 proj of the Aug 5 - 12 - 14 price swing
- SUP 4: 117.36 2.500 proj of the Aug 5 - 12 - 14 price swing
BTP futures futures rallied Wednesday reinforcing a bullish outlook. However, for now the contract continues to trade in a range. Key short-term resistance and the bull trigger is 120.74, the Aug 5 high. A break of this hurdle would confirm a resumption of the trend. Initial support to watch lies at 119.07, the Sep 25 low. Clearance of this level would allow for a deeper short-term retracement towards key support at 118.36, the Sep 3 low.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
GILT TECHS: (Z5) Corrective Cycle Still In Play
- RES 4: 92.30 High Aug 7
- RES 3: 92.06 High Aug 14
- RES 2: 92.00 Round number resistance
- RES 1: 91.66 High Sep 9
- PRICE: 91.36 @ Close Sep 9
- SUP 1: 90.65 Low Sep 2
- SUP 2: 90.31/89.36 Low Sep 4 / 3
- SUP 3: 89.22 1.618 proj of the Aug 21 - 27 - 28 price swing
- SUP 4: 89.00 Round number support
A rally in Gilt futures last week and bullish start to this week’s session, highlights a stronger corrective cycle. The move higher is allowing an oversold trend condition to unwind. The contract has breached initial firm resistance at 90.84, the Aug 28 and 29 high. A continuation higher would open 92.06, the Aug 14 high. On the downside, initial support lies at 90.65, the Sep 5 low.
USDJPY TECHS: Monitoring Support
- RES 4: 151.62 61.8% retracement of the Jan 10 - Apr 22 bear leg
- RES 3: 150.92 High Aug 1 and a key resistance
- RES 2: 149.81 76.4% retracement of the Aug 1 - 14 bear leg
- RES 1: 147.61/149.14 20-day EMA / High Sep 3
- PRICE: 147.43 @ 06:59 BST Sep 10
- SUP 1: 146.21 Low Aug 14
- SUP 2: 145.86 Low Jul 24
- SUP 3: 145.53 Trendline drawn from the Apr 22 low
- SUP 4: 145.40 50% retracement of the Apr - Aug upleg
USDJPY continues to trade inside a range. Attention is on key short-term support at 146.21, the Aug 14 low and a bear trigger. A break of this level would highlight a stronger bearish threat and highlight a range breakout. This would expose 145.40, a Fibonacci retracement. On the upside, clearance of 149.14, the Sep 3 high is required to reinstate a bullish theme. Moving average studies are in a bull-mode position, highlighting a dominant uptrend.
MNI: NORWAY AUG UNDERLYING CPI -0.7% M/M, +3.1% Y/Y
- MNI: NORWAY AUG UNDERLYING CPI -0.7% M/M, +3.1% Y/Y
- MNI: NORWAY AUG CPI -0.6% M/M, +3.5% Y/Y
