Free Trial

(M2) Resumes Its Downtrend

BOBL TECHS
  • RES 4: 134.080 High Mar 7 and the bull trigger
  • RES 3: 133.390 High Mar 8
  • RES 2: 132.590 High Mar 9
  • RES 1: 130.870/131.359 High MAr 18 / 20-day EMA
  • PRICE: 129.860 @ 05:16 GMT Mar 22
  • SUP 1: 129.554 123.6% retracement of the Feb 8 - Mar 7 upleg
  • SUP 2: 129.008 138.2% retracement of the Feb 8 - Mar 7 upleg
  • SUP 3: 128.820 Low Dec 4 2015 (cont)
  • SUP 4: 128.340 Low Sep 17 2015 (cont)

Bobl futures started the week on a softer note, trading through last week’s low of 130.300 on Mar 16. This has confirmed a resumption of the underlying downtrend and maintains the broader bearish price sequence of lower lows and lower highs. The break lower paves the way for a move towards 129.554 next, the 123.6% retracement of the Feb 8 - Mar 7 upleg. The 20-day EMA at 131.359 is seen as a firm resistance.

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.