Free Trial

(M1) Resistance Defined

SCHATZ TECHS
  • RES 4: 135.050 High Apr 22
  • RES 3: 135.040 High May 6 and key short-term resistance
  • RES 2: 135.008 61.8% retracement of the Mar 25 - May 19 downleg
  • RES 1: 134.850 High May 26 and 27
  • PRICE: 134.730 @ 05:25 BST May 31
  • SUP 1: 134.410 Low May 24
  • SUP 2: 134.180/140 Low May 19 / Low Feb 26 and key support
  • SUP 3: 134.000 Round number support
  • SUP 4: 133.340 Low Mar 19, 2020 (cont)

Bobl futures reversed course on May 27. Gains have stalled just above the key resistance highlighted by the 50-day EMA. The average intersects at 134.816. Recent gains are still considered a correction. Further weakness would signal scope for a move towards 134.410, May 24 low with the key support zone at 134.180/140, the May 19 and Feb 26 lows respectively. A strong break of last week's 134.850 high would resume gains.

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.