Free Trial

(H4) Bearish Trend Structure

BOBL TECHS
  • RES 4: 118.660 High Feb 1 and the reversal trigger
  • RES 3: 118.370 High Feb 2
  • RES 2: 117.880 High Feb 5
  • RES 1: 117.480 20-day EMA
  • PRICE: 116.590 @ 08:06 GMT Feb 20
  • SUP 1: 116.440 Low Feb 19
  • SUP 2: 116.390 Low Nov 28
  • SUP 3: 116.110 1.00 proj of the Dec 27 - Jan 25 - Feb 1 price swing
  • SUP 4: 115.820 Low Nov 24

A bearish cycle in Bobl futures remains intact. Recent weakness resulted in the breach of key support and a bear trigger at 117.280, the Jan 25 low. The clear break confirms a resumption of the bear cycle that started Dec 27 and sights are on 116.390, the Nov 28 low. On the upside, key short-term resistance has been defined at 118.660, the Feb 1 high. A break would be a bullish development.

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.