Free Trial

(H18) 130.80 Resistance Keeps............>

BOBL TECHS: (H18) 130.80 Resistance Keeps Immediate Bias Lower
*RES 4: 130.99/00 Feb 5 high, Jan 18 low
*RES 3: 130.80 Hourly congestion Feb 5-6
*RES 2: 130.71 Feb 9 high
*RES 1: 130.63 Hourly resistance
*PRICE: 130.57 @0812GMT
*SUP 1: 130.29 Hourly support
*SUP 2: 130.16 Feb 8 low
*SUP 3: 130.10 38.2% Fibo of 122.34-134.89
*SUP 4: 129.86 0.5% volatility band
*COMMENTARY* The failure to move back above 130.80 last Friday, saw the
immediate interest return lower, with hourly support from 130.29, now the
protection to last week's 130.16 base. Below here and the 38.2% Fibo retrace
level at 130.10 then becomes the next attraction, ahead of the lower 0.5%
volatility band, at 129.86 by time today. Meanwhile 130.63-130.71 now forms an
initial barrier to that 130.80 level.

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.