Free Trial

(M3) Sharp Reversal

BOBL TECHS
  • RES 4: 119.580 High Dec 9 2022 (cont)
  • RES 3: 119.230 High Dec 15 2022 (cont)
  • RES 2: 118.880 High Jan 19 (cont) and a key resistance
  • RES 1: 118.730 High Mar 13
  • PRICE: 117.850 @ 05:00 GMT Mar 14
  • SUP 1: 117.206 38.2% retracement of the Mar 6 - 13 rally
  • SUP 2: 116.890 High Feb 24
  • SUP 3: 116.264 61.8% retracement of the Mar 6 - 13 rally
  • SUP 4: 115.700 Low Mar 10

Bobl futures traded sharply higher Monday and in the process cleared a number of key short-term resistance points. The sharp reversal has exposed 118.880, the Jan 19 high on the continuation chart and a key near-term resistance. A break of this level would strengthen the current bullish theme and signal scope for gains above the 119.00 handle. On the downside, initial support is seen at 117.206, 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.