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BOBL TECHS: (Z4) Recovers From Its Recent Lows

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 120.190 High Oct 3   
  • RES 3: 119.875 61.8% retracement of the Oct 1 - 10 bear leg      
  • RES 2: 119.635 50.0% retracement of the Oct 1 - 10 bear leg     
  • RES 1: 119.500 High Oct 16                       
  • PRICE: 119.350 @ 05:50 BST Oct 17 
  • SUP 1: 119.010/118.620 Low Oct 15 / 10        
  • SUP 2: 118.580 Low Sep 3 and a key support
  • SUP 3: 118.00 Round number support   
  • SUP 4: 117.789 123.6% retrace projection of the Sep 3 - Oct 1 bull leg   

A bear cycle in Bobl futures remains intact and short-term gains are considered corrective. Note that the cross has traded through its 20-day EMA. An extension would signal scope for a climb towards 119.635, a Fibonacci retracement point. For bears, a reversal lower would refocus attention on 118.620, the Oct 10 low and a bear trigger. A break of this level would resume the recent bear trend

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  • RES 4: 120.190 High Oct 3   
  • RES 3: 119.875 61.8% retracement of the Oct 1 - 10 bear leg      
  • RES 2: 119.635 50.0% retracement of the Oct 1 - 10 bear leg     
  • RES 1: 119.500 High Oct 16                       
  • PRICE: 119.350 @ 05:50 BST Oct 17 
  • SUP 1: 119.010/118.620 Low Oct 15 / 10        
  • SUP 2: 118.580 Low Sep 3 and a key support
  • SUP 3: 118.00 Round number support   
  • SUP 4: 117.789 123.6% retrace projection of the Sep 3 - Oct 1 bull leg   

A bear cycle in Bobl futures remains intact and short-term gains are considered corrective. Note that the cross has traded through its 20-day EMA. An extension would signal scope for a climb towards 119.635, a Fibonacci retracement point. For bears, a reversal lower would refocus attention on 118.620, the Oct 10 low and a bear trigger. A break of this level would resume the recent bear trend