Free Trial

(M1) Eying The Feb 26 Low

BOBL TECHS
  • RES 4: 135.050 High Apr 22
  • RES 3: 135.040 High May 6 and key short-term resistance
  • RES 2: 134.870 High May 10
  • RES 1: 134.754 20-day EMA
  • PRICE: 134.460 @ 05:02 BST May 17
  • SUP 1: 134.300 Low May 13
  • SUP 2: 134.140 Low Feb 26 and key support
  • SUP 3: 134.000 Round number support
  • SUP 4: 133.340 Low Mar 19, 2020 (cont)

Bobl futures traded lower last week to hit new cycle lows of 134.300 on May 13. This confirms a resumption of the bearish cycle that started Mar 25. The break lower and resumption of weakness also signals scope for a move towards end-Feb lows next, with support layered between 134.00-134.14. Clearance of this zonal would signal scope for further losses toward the 2020 lows. Key resistance is at 135.040, May 6 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.