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: 116.020 @ 08:22 GMT Feb 22
  • SUP 1: 115.960 Low Feb 22
  • SUP 2: 115.883 Lower 2.0% Bollinger Band
  • SUP 3: 115.820 Low Nov 24
  • SUP 4: 115.514 1.0% 10-dma envelope

A bearish cycle in Bobl futures resumed Thursday, with prices firmly taking out support at 116.11 on the way to new pullback lows of 115.960. This clear break confirms a resumption of the bear cycle that started Dec 27 and sights are on 115.820, the Nov 24 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, but that’s looking unlikely given current momentum.

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.