Free Trial

(H3) Short-Term Trend Needle Points South

BOBL TECHS
  • RES 4: 119.086 76.4% retracement of the Dec 7 - Jan 2 downleg
  • RES 3: 118.880 High Jan 19 and the bull trigger
  • RES 2: 117.725/118.670 50-day EMA / High Feb 2
  • RES 1: 117.460 High Feb 9
  • PRICE: 116.800 @ 20:17 GMT Feb 13
  • SUP 1: 116.650 Low Feb 13
  • SUP 2: 116.540 Low Jan 4
  • SUP 3: 116.405 76.4% retracement of the Jan 2 - 19 bull run
  • SUP 4: 116.030 Low Jan 3

Bobl futures maintain a weaker tone following the reversal lower from 118.670, the Feb 2 high. Key short-term support at 117.020, the Jan 30 low, has been breached. The break of this level reinforces bearish conditions and signals scope for an extension towards 116.405, a Fibonacci retracement. On the upside, the resistance to watch is at 117.725, the 50-day EMA. A break above this average would ease bearish pressure.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

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.