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Resend - (Z0) Tests Key Resistance

BOBL TECHS
  • RES 4: 135.508 1.382 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 3: 135.413 1.236 retrace extension of the Aug 21 - Sep 1 sell-off
  • RES 2: 135.200 High Aug 6
  • RES 1: 135.260 High Aug 21 and high Sep 3
  • PRICE: 135.150 @ 05:16 BST Sep 4
  • SUP 1: 135.050 Low Sep 3
  • SUP 2: 134.900 Low Sep 2
  • SUP 3: 134.858 61.8% retracement of the Sep 1 - 3 rally
  • SUP 4: 134.610 Low Sep 1 and major support

BOBL futures traded higher yesterday and the contract is holding onto gains. The sharp reversal brings into focus resistance at 135.26, Aug 21 high. A clear breach of this level would reinforce the bullish backdrop highlighted by this week's gains and signal scope for an extension higher towards 135.413 initially, a Fibonacci extension based on the Aug 21 - Sep 1 decline. Initial support is at 135.050, yesterday's low.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com