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BOBL TECHS: (Z4) Bullish Trend Conditions

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 120.905 1.50 retracement proj of the Aug 5 - Sep 3 bear leg
  • RES 3: 120.722 1.382 retracement proj of the Aug 5 - Sep 3 bear leg  
  • RES 2: 120.496 1.236 retracement proj of the Aug 5 - Sep 3 bear leg    
  • RES 1: 120.230 High Sep 11                     
  • PRICE: 119.830 @ 05:40 BST Sep 16
  • SUP 1: 119.620 Low Sep 12       
  • SUP 2: 119.390 20-day EMA   
  • SUP 3: 119.030 Low Sep 4    
  • SUP 4: 118.580 Low Sep 3 and key support 

A bullish condition in Bobl futures remains intact and last week’s gains have reinforced this theme. The move higher on Sep 11 resulted in a print above key resistance and the bull trigger at 120.130, the Aug 5 high. A clear break of this level would confirm a resumption of the medium-term uptrend. Sights are on 120.496, a Fibonacci retracement point. On the downside, initial firm support to watch is 119.390, the 20-day EMA.

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  • RES 4: 120.905 1.50 retracement proj of the Aug 5 - Sep 3 bear leg
  • RES 3: 120.722 1.382 retracement proj of the Aug 5 - Sep 3 bear leg  
  • RES 2: 120.496 1.236 retracement proj of the Aug 5 - Sep 3 bear leg    
  • RES 1: 120.230 High Sep 11                     
  • PRICE: 119.830 @ 05:40 BST Sep 16
  • SUP 1: 119.620 Low Sep 12       
  • SUP 2: 119.390 20-day EMA   
  • SUP 3: 119.030 Low Sep 4    
  • SUP 4: 118.580 Low Sep 3 and key support 

A bullish condition in Bobl futures remains intact and last week’s gains have reinforced this theme. The move higher on Sep 11 resulted in a print above key resistance and the bull trigger at 120.130, the Aug 5 high. A clear break of this level would confirm a resumption of the medium-term uptrend. Sights are on 120.496, a Fibonacci retracement point. On the downside, initial firm support to watch is 119.390, the 20-day EMA.