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BOBL TECHS: (Z4) Uptrend Remains Intact

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • RES 4: 121.379 1.236 proj of the Sep 3 - 11 - 20 price swing
  • RES 3: 121.00 Round number resistance    
  • RES 2: 120.99 1.00 proj of the Sep 3 - 11 - 20 price swing   
  • RES 1: 120.650 High Oct 1                       
  • PRICE: 120.100 @ 05:36 BST Oct 3 
  • SUP 1: 120.010 Low Oct 1       
  • SUP 2: 119.784 20-day EMA  
  • SUP 3: 119.660 Low Sep 27     
  • SUP 4: 119.340 Low Sep 20 and key support 

The trend condition in Bobl futures remains bullish and Tuesday’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 120.990 next, a Fibonacci retracement level. Initial firm support is at 119.784, the 20-day EMA. A pullback is considered corrective.

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  • RES 4: 121.379 1.236 proj of the Sep 3 - 11 - 20 price swing
  • RES 3: 121.00 Round number resistance    
  • RES 2: 120.99 1.00 proj of the Sep 3 - 11 - 20 price swing   
  • RES 1: 120.650 High Oct 1                       
  • PRICE: 120.100 @ 05:36 BST Oct 3 
  • SUP 1: 120.010 Low Oct 1       
  • SUP 2: 119.784 20-day EMA  
  • SUP 3: 119.660 Low Sep 27     
  • SUP 4: 119.340 Low Sep 20 and key support 

The trend condition in Bobl futures remains bullish and Tuesday’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 120.990 next, a Fibonacci retracement level. Initial firm support is at 119.784, the 20-day EMA. A pullback is considered corrective.