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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
(H3) Testing Support
- RES 4: 119.490 High Dec 13
- RES 3: 119.310 High Dec 14
- RES 2: 119.086 76.4% retracement of the Dec 7 - Jan 2 downleg
- RES 1: 118.240/880 High Jan 20 / 19 and the bull trigger
- PRICE: 117.530 @ 05:13 GMT Jan 24
- SUP 1: 117.510 Low Jan 23 and intraday low
- SUP 2: 117.170 Low Jan 11
- SUP 3: 116.950 Low Jan 10
- SUP 4: 116.740 Low Jan 6
Bobl futures remain in a S/T corrective cycle and the contract has tested support at 117.560, Jan 16 low. The primary trend condition remains bullish. Last week’s climb reinforces a positive outlook and maintains the bullish price sequence of higher highs and higher lows. A resumption of gains would open 119.086, a Fibonacci retracement level. A clear break of 117.560 support would undermine the bullish theme and signal scope for a deeper pullback.
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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.