Free Trial

(H4) Bear Cycle Remains In Play

BOBL TECHS
  • RES 4: 120.130 High Mar 24 (cont)
  • RES 3: 120.000 Psychological round number
  • RES 2: 119.640/830 High Jan 4 / High Dec 27 and the bull trigger
  • RES 1: 118.640 High Aug 8
  • PRICE: 118.090 @ 05:34 GMT Jan 16
  • SUP 1: 117.900 Low Jan 10 / 11
  • SUP 2: 117.836/800 50-day EMA / Low Dec 8 and a key support
  • SUP 3: 117.510 Low Dec 4
  • SUP 4: 117.060 Low Dec 1

A bearish corrective cycle in Bobl futures remains intact and last week’s move lower reinforces a bear theme. The recent breach of the 20-day EMA highlights potential for a deeper pullback, exposing 117.800, Dec 8 low, Note that the 50-day EMA lies at 117.836. Clearance of both support points would strengthen a bearish threat. Key resistance and the bull trigger is 119.830, the Dec 27 high. Initial resistance is at 118.640, the Aug 8 high.

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.