Free Trial

(M18) Sustained 130.40 Break Remains.....>

BOBL TECHS
BOBL TECHS: (M18) Sustained 130.40 Break Remains Pivotal To Direction
*RES 4: 130.89 Jan 2 low, now resistance
*RES 3: 130.61/64 Jan 22 high, 38.2% Fibo of 132.70-129.36
*RES 2: 130.57 Mar 5 high
*RES 1: 130.40/45 76.4% of 130.57-129.84, intraday high
*PRICE: 130.38 @0800GMT
*SUP 1: 130.07/14 Hourly support
*SUP 2: 129.97 Initial recovery high Mar 8
*SUP 3: 129.84 Mar 8 low
*SUP 4: 129.81/82 Feb 22 low, 61.8% Fibo of 129.36-130.57
*COMMENTARY* The move through 130.28 late last month gave the upside some near
term impetus, reaching a high of 130.57 last week, just below the 38.2% Fibo
retrace at 130.64, as we continued to claw back some losses from the December
high at 132.70. The subsequent fall, aided by near term overbought conditions,
was deeper than anticipated, reaching towards 129.82-129.18 support. Subsequent
recovery will need to sustain a break of 130.40 to get upside back on track.

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.