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(U1) Bearish Tone
- RES 4: 135.640 High Aug 05 and the bull trigger
- RES 4: 135.430 High Aug 20 a key near-term resistance
- RES 3: 135.340 Aug 25 high
- RES 2: 135.270 High Aug 31
- PRICE: 135.030 @ 05:04 BST Sep 3
- SUP 1: 134.890 Low Sep 1
- SUP 2: 134.750 50.0% retracement of the Jun 22 - Aug 5 rally
- SUP 3: 134.689 Trendline support drawn from the May 20 low
- SUP 4: 134.540 61.8% retracement of the Jun 22 - Aug 5 rally
Bobl futures maintain a weaker tone following this week's resumption of the downtrend that started Aug 5. The contract has cleared recent support at 135.040, Aug 27 low and the 50-day EMA. This signals scope for a move towards 134.750 next, a Fibonacci retracement. Further out, trendline support intersects at 134.689. The trendline is drawn from the May 20 low. Key short-term resistance is at 135.270, the Aug 31 high.
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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.