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BOBL TECHS: (Z4) Trades Through Resistance

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 120.190 High Oct 3       
  • RES 3: 119.949 76.4% retracement of the Oct 1 - 31 bear leg      
  • RES 2: 119.620 High Oct 18     
  • RES 1: 119.600 Intraday high                        
  • PRICE: 119.540 @ 08:17 GMT Nov 27  
  • SUP 1: 118.887/779 50- and 20-day EMA values            
  • SUP 2: 118.150 Low Nov 14  
  • SUP 3: 118.680 Low Oct 31 and the bear trigger     
  • SUP 4: 117.570 2.00 proj of the Oct 18 - 22 - 24   

Recent gains in Bobl futures still appear corrective, however, the continued appreciation in price highlights an extension of this cycle. The contract has breached both the 20- and 50-day EMAs and today’s move higher has resulted in a print above 119.519, 61.8% of the Oct 1 - 31 bear leg. Clearance of this level would strengthen a bullish theme and open 119.949, the 76.4% retracement point. Initial firm support lies at 118.779, the 20-day EMA.

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  • RES 4: 120.190 High Oct 3       
  • RES 3: 119.949 76.4% retracement of the Oct 1 - 31 bear leg      
  • RES 2: 119.620 High Oct 18     
  • RES 1: 119.600 Intraday high                        
  • PRICE: 119.540 @ 08:17 GMT Nov 27  
  • SUP 1: 118.887/779 50- and 20-day EMA values            
  • SUP 2: 118.150 Low Nov 14  
  • SUP 3: 118.680 Low Oct 31 and the bear trigger     
  • SUP 4: 117.570 2.00 proj of the Oct 18 - 22 - 24   

Recent gains in Bobl futures still appear corrective, however, the continued appreciation in price highlights an extension of this cycle. The contract has breached both the 20- and 50-day EMAs and today’s move higher has resulted in a print above 119.519, 61.8% of the Oct 1 - 31 bear leg. Clearance of this level would strengthen a bullish theme and open 119.949, the 76.4% retracement point. Initial firm support lies at 118.779, the 20-day EMA.