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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.
BUND TECHS
FI markets are under pressure. Price action in the Bund (U0), suggests we are likely to see more of the same near-term. The key technical factors are:
- The rally between Aug 14 - 21 stalled 177.36, 76.4% of the prior downleg between Aug 4 - 14. The price high was 177.37.
- It suggests the rally in the first half of August was a correction and that the bearish direction since early August dominates.
- Key support lies at 175.25, Aug 14 low. A break would trigger a deeper slide opening 174.65, 61.8% of the May Aug rally.
- Key resistance to watch is 177.37, last week's high.
Elsewhere, equity markets appear likely to remain supported.
- S&P futures (U0) focus is on 3500.00.
- Resistance and the intraday bull trigger to watch in the EUROSTOXX 50 index is at 3377.44, Aug 12 high
Oil markets are holding onto recent gains. Key resistance levels are:
- Brent futures (X0): $46.61, Aug 5 high and the bull trigger.
- WTI futures (V0) $43.68 - Aug 5 high and the bull trigger.
- A break would confirm a resumption of the underlying uptrend.
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.
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