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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
(M2) Outlook Remains Bearish
- RES 4: 130.160 High Mar 23
- RES 3: 130.083 50-day EMA
- RES 2: 129.350 High Apr 4 and a key trend resistance
- RES 1: 128.310/671 High Apr 8 / 20-day EMA
- PRICE: 127.430 @ 04:57 BST Apr 20
- SUP 1: 127.120 Low Apr 12 and the bear trigger
- SUP 2: 126.940 0.382 proj of the Mar 7 - 29 - Apr 4 price swing
- SUP 3: 126.480 Low Jun 5 2014 (cont)
- SUP 4: 126.196 0.50 proj of the Mar 7 - 29 - Apr 4 price swing
Bobl futures remain in a clear downtrend. A fresh cycle low on Apr 12 confirmed a resumption of the primary downtrend. The move lower maintains the broader bearish price sequence of lower lows and lower highs and note that moving averages continue to point south. The focus is on a move towards 126.940, a Fibonacci projection. Key short-term trend resistance has been defined at 129.350, the Apr 4 high. Initial resistance is at 128.310.
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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.