Free Trial

(M18) Bears Need Close Below 131.070.....>

BOBL TECHS
BOBL TECHS: (M18) Bears Need Close Below 131.070
*RES 4: 131.519 200-WMA 
*RES 3: 131.450 High Jan 23 (Cont) 
*RES 2: 131.356 Bollinger band top 
*RES 1: 131.310 High Apr 3
*PREVIOUS CLOSE: 131.180
*SUP 1: 131.103 100-WMA
*SUP 2: 131.070 High Apr 30 now support
*SUP 3: 130.880 Low May 3
*SUP 4: 130.780 Hourly resistance Apr 26 now support
*COMMENTARY: Bulls take comfort in the close above the 100-WMA that sees
immediate pressure on the 131.310 Apr high. Bulls look for a close above this
level to target the 131.519-859 region where the 200-WMA and bull channel top
are located. The Bollinger top is likely to limit follow through and is a
concern for bulls. Bears now need a close below 131.070 to gain breathing room
and below 130.880 to shift focus to 130.510-680.

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.