Free Trial

(M3) Eyeing Key Support

BOBL TECHS
  • RES 4: 120.610 High Mar 20 and the bull trigger
  • RES 3: 120.130 High Mar 24
  • RES 2: 119.307 61.8% retracement of the Mar 20 - 31 downleg
  • RES 1: 118.420/119.190 High Apr 11 / High Mar 27
  • PRICE: 117.490 @ 05:13 BST Apr 14
  • SUP 1: 117.330/200 Low Apr 12 / Low Mar 31 and a key support
  • 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 Wednesday. For now, the contract remains above support at 117.200, the Mar 31 low. A break of this level would threaten a recent bullish theme and open 116.982, a Fibonacci retracement. For bulls, a resumption of gains would refocus attention on 119.190, the Mar 27 high and a trigger for a stronger short-term climb - this would open 119.307, a Fibonacci retracement.

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.