Free Trial

(H18) Further Recovery Hopes Pinned On...>

BOBL TECHS
BOBL TECHS: (H18) Further Recovery Hopes Pinned On 131.52-131.43 Support
*RES 4: 132.24 Dec 14 low, now resistance
*RES 3: 131.97 Nov 30 low, now resistance
*RES 2: 131.91 Dec 19 low, now resistance
*RES 1: 131.82 Jan 8 high
*PRICE: 131.70 @0850GMT
*SUP 1: 131.52/54 76.4% of 131.43-131.82, Jan 4 low
*SUP 2: 131.43 Dec 27, Jan 2 lows
*SUP 3: 131.26 1.618 swing of 131.43-131.71
*SUP 4: 131.24 50% Fibo of 129.74-132.74
*COMMENTARY* This year's recovery popped above previous 131.76 high to reach
131.82 on Monday, before encountering some near term overbought conditions but
there is still good support stacking up from above the recent 131.43 lows. In
this respect the 131.54-131.52 area now provides immediate protection to the
downside. Above 131.82 and further corrective opportunities allow a higher
131.91-132.24 rise. 

To read the full story

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.