Free Trial

(H4) Pullback Considered Corrective

BOBL TECHS
  • RES 4: 119.000 Round number resistance
  • RES 3: 118.820 3.00 proj of the Sep 28 - Oct 10 - 19 price swing
  • RES 2: 118.584 2.764 proj of the Nov 14 - 17 - 24 price swing
  • RES 1: 118.480 High Dec 8
  • PRICE: 117.990 @ 05:10 GMT Dec 13
  • SUP 1: 117.690 Low Dec 5
  • SUP 2: 117.239 20-day EMA
  • SUP 3: 116.650 High Nov 17 and a recent breakout level
  • SUP 4: 116.390 Low Nov 28

A bull cycle in Bobl futures remains in play and the latest pullback is considered corrective. On Nov 28, the contract cleared 116.65, the Nov 17 high, to confirm a resumption of the uptrend that started on Sep 28. The break paves the way for 118.584 next, a Fibonacci projection. Initial firm support lies at 117.239, the 20-day EMA. The short-term trend condition is overbought. A corrective pullback would unwind this condition.

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.