Free Trial

(M2) Bearish Focus

BOBL TECHS
  • RES 4: 129.350/462 High Apr 4 and reversal point / 50-day EMA
  • RES 3: 128.830 High Apr 7
  • RES 2: 128.310 High Apr 8/28 and a key near-term resistance
  • RES 1: 128.190 High Apr 27
  • PRICE: 127.460 @ 05:12 BST Apr 29
  • SUP 1: 126.660 Low Apr 22 and the bear trigger
  • SUP 2: 126.480 Low Jun 5 2014 (cont)
  • SUP 3: 126.196 0.50 proj of the Mar 7 - 29 - Apr 4 price swing
  • SUP 4: 126.00 Round number support

The climb this week in Bobl futures is considered corrective and yesterday’s move lower signals the end of the correction. Fresh cycle lows last week reinforce the primary downtrend, maintaining the broader bearish price sequence of lower lows and lower highs. Note that moving averages continue to point south. A resumption of weakness would open 126.480 next, Jun 5 2014 low (cont). Key S/T trend resistance is at 128.310, the Apr 14/28 high.

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.