Free Trial

(U0) Rallies Still Sold

BOBL TECHS
  • RES 4: 135.757 76.4% retrace of the May 4 - Jun 10 decline (cont)
  • RES 3: 135.500 High May 22 (cont)
  • RES 2: 135.421 61.8% retrace of the May 4 - Jun 10 decline (cont)
  • RES 1: 135.350 High Jul 31
  • PRICE: 134.940 @ 02:35 BST Aug 12
  • SUP 1: 134.880 Low Aug 11
  • SUP 2: 134.610/560 Low Jul 20 / Low Jul 13
  • SUP 3: 134.510 Low Jul 2 and key support
  • SUP 4: 134.410 Low Jun 17

Despite recovering into the Monday close, rallies remain sold in Bobl futures, with prices edging lower Tuesday to touch the lowest levels since Jul 28. Markets need to snap 135.350 to reignite any upside. A break above here opens 135.421 (cont), 61.8% of the Apr - Jun sell-off. Should Bobls return lower, 134.610/560 should provide decent support. The outlook holds relatively neutral for now.

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.