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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
(M3) Bear Cycle Remains In Play
- RES 4: 120.130 High Mar 24
- RES 3: 119.307 61.8% retracement of the Mar 20 - 31 downleg
- RES 2: 118.420/119.190 High Apr 11 / High Mar 27
- RES 1: 117.869 20-day EMA
- PRICE: 117.190 @ 05:13 BST Apr 17
- SUP 1: 117.080 Intraday low
- SUP 2: 116.982 61.8% retracement of the Mar 6 - 20 rally
- SUP 3: 116.370 Low Mar 15
- SUP 4: 116.125 76.4% retracement of the Mar 6 - 20 rally
Bobl futures traded lower again Friday and the outlook remains bearish. The contract has breached support at 117.200, the Mar 31 low. This reinforces the bearish theme and opens 116.982, a Fibonacci retracement. For bulls, a resumption of gains would refocus attention on 119.190, the Mar 27 high and the trigger for a stronger short-term climb. Initial resistance is seen at 117.869, the 20-day EMA.
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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.