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MNI Credit Weekly: Le Vendredi Noir
(M18) Continues To Rise After Early......>
BOBL TECHS: (M18) Continues To Rise After Early Intraday Dip
*RES 4: 132.96 61.8% Fibo of 134.89-129.84
*RES 3: 132.74 Dec 7 high
*RES 2: 132.70 1% volatility band
*RES 1: 132.51 Intraday high
*PRICE: 132.47 @1552GMT
*SUP 1: 132.18 May 25 high, now support
*SUP 2: 132.01 Intraday hourly base
*SUP 3: 131.93 Initial intraday recovery high, now support
*SUP 4: 131.75 Intraday low
*COMMENTARY* Continued to post gains following last Wednesday's rally through
the 15 month falling resistance line, at 131.49 by time today. The rally moved
briefly through the upper 0.5% volatility band on Friday, to reach 132.18,
before being swiftly reversed. The subsequent rally has been impressive,
eclipsing 132.18 to reach a high of 132.51 on the day. Support from that 132.18
now backed up by 132.01-131.93. Above 132.51 and look to 132.70-132.74 next.
To read the full story
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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.