Free Trial

(H4) Fresh Cycle Low

BOBL TECHS
  • RES 4: 117.880 High Feb 5
  • RES 3: 117.730 High Feb 7
  • RES 2: 117.199 50-day EMA
  • RES 1: 116.280/734 High Feb 29 / 20-day EMA
  • PRICE: 116.130 @ 05:34 GMT Mar 1
  • SUP 1: 115.710 Low Feb 29r
  • SUP 2: 115.508 1.236 proj of the Dec 27 - Jan 25 - Feb 1 price swing
  • SUP 3: 115.480 Low Oct 26 (cont)
  • SUP 4: 115.136 1.382 proj of the Dec 27 - Jan 25 - Feb 1 price swing

A bearish cycle in Bobl futures remains in play and the contract traded to a fresh cycle low yesterday. The move down confirms once again a resumption of the bear cycle that started Dec 27 and sights are on 115.508, a Fibonacci projection. On the upside, initial firm resistance is seen at 116.734, the 20-day EMA, ahead of 117.199, the 50-day EMA. Short-term gains would be considered part of a corrective bounce.

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.