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Free Access(M1) Outlook Remains Bearish
- 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: 134.597 20-day EMA
- PRICE: 134.530 @ 05:17 BST May 25
- SUP 1: 134.180 Low May 19
- 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 touched a new cycle low of 134.180 on May 19. This reinforced the bearish cycle that started Mar 25 and confirmed a resumption of the underlying downtrend. It also opens the end-Feb lows next. Support is layered between 134.00-134.14. Clearance of this zone would confirm a resumption of the broader downtrend. Key short-term resistance is at 134.597, the 20-day EMA. Current gains are considered corrective.
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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.