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BOBL TECHS: (Z4) Trading Closer To Its Recent Lows

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 120.650 High Oct 1 and key resistance 
  • RES 3: 120.190 High Oct 3      
  • RES 2: 119.870 High Oct 4     
  • RES 1: 119.260/119.461 High Oct 9 / 20-day EMA                       
  • PRICE: 119.000 @ 05:29 BST Oct 14 
  • SUP 1: 118.620 Low Oct 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   

Bobl futures are trading closer to their recent lows. The reversal from the Oct 1 high, undermines a recent bullish theme and signals scope for a deeper retracement. The contract has traded through a number of short-term retracement points and has recently breached the 20-day EMA. A continuation lower would open 118.580, the Sep 3 low. Initial resistance is 119.461, the 20-day EMA.

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  • RES 4: 120.650 High Oct 1 and key resistance 
  • RES 3: 120.190 High Oct 3      
  • RES 2: 119.870 High Oct 4     
  • RES 1: 119.260/119.461 High Oct 9 / 20-day EMA                       
  • PRICE: 119.000 @ 05:29 BST Oct 14 
  • SUP 1: 118.620 Low Oct 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   

Bobl futures are trading closer to their recent lows. The reversal from the Oct 1 high, undermines a recent bullish theme and signals scope for a deeper retracement. The contract has traded through a number of short-term retracement points and has recently breached the 20-day EMA. A continuation lower would open 118.580, the Sep 3 low. Initial resistance is 119.461, the 20-day EMA.