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Free Access(H18) 130.29 Support Keeps Potential.....>
BOBL TECHS: (H18) 130.29 Support Keeps Potential Recovery Hopes Alive
*RES 4: 131.12 Jan 24 low, now resistance
*RES 3: 130.99/00 Feb 5 high, Jan 18 low
*RES 2: 130.80 Hourly congestion Feb 5-6
*RES 1: 130.69/71 Feb 13, Feb 9 highs
*PRICE: 130.58 @0840GMT
*SUP 1: 130.29/34 Hourly support, Feb 15 low
*SUP 2: 130.16 Feb 8 low
*SUP 3: 130.10 38.2% Fibo of 122.34-134.89
*SUP 4: 129.89 0.5% volatility band
*COMMENTARY* Has traded within a narrow range all week, with 130.29 support
offering current protection against a return to 130.16 and of the underlying
downtrend, in place since the Dec 7 high at 132.74. To combat this, will need to
see an initial rally through 130.69-130.71 but greater obstacles are seen from
130.80 initially and then the 130.99-131.00 region. Back above the latter would
allow a correction of those losses from 132.74 to take place.
To read the full story
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Why MNI
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.