HALISTER1: BTP Eyes Bullish Pattern Resolution; Yield May See 1.77%: Charts

BTP Eyes Bullish Pattern Resolution; Yield May See 1.77%: Charts

(Bloomberg) -- Italy 10-year yield attempting to break out lower from a ‘pennant’ like consolidation pattern in place since mid-November; confirmed resolution may see yield slide toward 1.77% Fibonacci level, Bloomberg technical analyst Sejul Gokal writes.
  • See chart; -9bps to 1.98%
  • Lower end of pattern at 1.98%; must see a close below here to inspire further rally in BTPs
  • MACD crossing lower from elevated levels, supporting downside breakout
  • Below 1.77%, may target 1.63%, 50% of August-November selloff
  • BTP Futures Spike After Report on ECB Readiness to Support BTPs
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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