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BOBL TECHS: (Z4) Watching Support

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: 119.810@ 05:50 BST Oct 4 
  • SUP 1: 119.800/ 780 20-day EMA / Low Oct 3       
  • SUP 2: 119.660 Low Sep 27 
  • SUP 3: 119.340 Low Sep 20 and key support    
  • SUP 4: 119.210 Low Sep 5 

The trend condition in Bobl futures is bullish and Tuesday’s rally reinforces this theme. The subsequent pullback, for now, is considered corrective. The contract has traded through 120.230, the Sep 11 high and a bull trigger, confirming a resumption of the uptrend. Sights are set on 120.990 next, a Fibonacci projection. Initial firm support is at 119.800, the 20-day EMA. It has been pierced, a break would expose 119.340, the Sep 20 and key support.

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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: 119.810@ 05:50 BST Oct 4 
  • SUP 1: 119.800/ 780 20-day EMA / Low Oct 3       
  • SUP 2: 119.660 Low Sep 27 
  • SUP 3: 119.340 Low Sep 20 and key support    
  • SUP 4: 119.210 Low Sep 5 

The trend condition in Bobl futures is bullish and Tuesday’s rally reinforces this theme. The subsequent pullback, for now, is considered corrective. The contract has traded through 120.230, the Sep 11 high and a bull trigger, confirming a resumption of the uptrend. Sights are set on 120.990 next, a Fibonacci projection. Initial firm support is at 119.800, the 20-day EMA. It has been pierced, a break would expose 119.340, the Sep 20 and key support.