Free Trial

(M18) Rally Fails To Make A 131.31.......>

BOBL TECHS
BOBL TECHS: (M18) Rally Fails To Make A 131.31 Return
*RES 4: 131.82 Jan 8 high
*RES 3: 131.65 0.5% volatility band
*RES 2: 131.31 Apr 3 high
*RES 1: 131.24/26 Apr 6, May 3, May 4 highs
*PRICE: 131.07 @1605GMT
*SUP 1: 130.99/02 Hourly support
*SUP 2: 130.88 May 3 low
*SUP 3: 130.81 Apr 30 low
*SUP 4: 130.74/75 Initial rally highs Apr 24, now support
*COMMENTARY* Has been unable to deal with 131.24-131.26 resistance over the last
few days, let alone a return to the early April high at 131.31. Now bowing to
some near term overbought conditions, so eyes will initially be on 131.02-130.99
support. Loss would caution now and suggest scope for a deeper pullback of the
gains seen since the Apr 25 low at 130.55. This would then pull 130.88-130.81
back into the reckoning. Above 131.31 would allow 131.65 next.

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.