Free Trial

(H0) Downtrend Resumes *RES 4: 134.510...>

BOBL TECHS: (H0) Downtrend Resumes
*RES 4: 134.510 High Nov 28
*RES 3: 134.480 High Dec 4 and bull trigger
*RES 2: 134.420 High Dec 12
*RES 1: 134.200 High Dec 18
*PRICE: 133.860 @ 04:43 GMT Dec 20
*SUP 1: 133.740 Low Dec 19
*SUP 2: 133.509 1.618 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 3: 133.422 1.764 projection of Nov 28 - Dec 3 decline from Dec 4 high
*SUP 4: 133.280 2.000 projection of Nov 28 - Dec 3 decline from Dec 4 high
H0 Bobl traded lower yesterday and registered a low print of 133.740, below the
key support of 133.770, low Dec 13. This has confirmed a resumption of the
downtrend and, with bearish conditions intact further downside is seen likely.
Scope is for weakness towards 133.509 next, a Fibonacci projection. On the
upside, near-term key resistance has been defined at 134.200, Wednesday's high.
A beak is required to signal scope for a stronger bounce.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.