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BOBL TECHS: (Z4) Resumes Its Uptrend 

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 120.990 1.000 proj of the Sep 3 - 11 - 20 price swing
  • RES 3: 120.601 0.764 proj of the Sep 3 - 11 - 20 price swing   
  • RES 2: 120.496 1.236 retracement proj of the Aug 5 - Sep 3 bear leg    
  • RES 1: 120.440 Intraday high                       
  • PRICE: 120.410 @ 13:24 BST Oct 1 
  • SUP 1: 119.674/340 20-day EMA / Low Sep 20       
  • SUP 2: 119.210 61.8% retracement of the Sep 3 - 11 rally  
  • SUP 3: 119.030 Low Sep 4    
  • SUP 4: 118.580 Low Sep 3 and key support 

The trend condition in Bobl futures remains bullish and today’s rally reinforces this theme. The contract has traded through resistance at 120.230, the Sep 11 high and a bull trigger. The break confirms a resumption of the uptrend and maintains the bullish sequence of higher lows. Sights are set on a climb towards 120.496 next, a Fibonacci retracement level. Initial firm support is seen at 119.674, the 20-day EMA.

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  • RES 4: 120.990 1.000 proj of the Sep 3 - 11 - 20 price swing
  • RES 3: 120.601 0.764 proj of the Sep 3 - 11 - 20 price swing   
  • RES 2: 120.496 1.236 retracement proj of the Aug 5 - Sep 3 bear leg    
  • RES 1: 120.440 Intraday high                       
  • PRICE: 120.410 @ 13:24 BST Oct 1 
  • SUP 1: 119.674/340 20-day EMA / Low Sep 20       
  • SUP 2: 119.210 61.8% retracement of the Sep 3 - 11 rally  
  • SUP 3: 119.030 Low Sep 4    
  • SUP 4: 118.580 Low Sep 3 and key support 

The trend condition in Bobl futures remains bullish and today’s rally reinforces this theme. The contract has traded through resistance at 120.230, the Sep 11 high and a bull trigger. The break confirms a resumption of the uptrend and maintains the bullish sequence of higher lows. Sights are set on a climb towards 120.496 next, a Fibonacci retracement level. Initial firm support is seen at 119.674, the 20-day EMA.