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BOND SUMMARY

EGB/Gilt - Attention turns to the FOMC

EMERGING MARKETS

CZKPLN Approaching Key Resistance at 0.18

US TSY OPTIONS

Range in Underlying Spurring Vol Sales

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  • RES 4: 135.350 High Apr 8 (cont)
  • RES 3: 135.313 2.236 proj of the May 20 - 26 - 31 price swing
  • RES 2: 135.160 2.00 proj of the May 20 - 26 - 31 price swing
  • RES 1: 135.130 High Jul 20
  • PRICE: 134.980 @ 04:46 BST Jul 22
  • SUP 1: 134.710/527 High Jul 8 / 20-day EMA
  • SUP 2: 134.410 Low Jul 13 and a key support
  • SUP 3: 134.389 50-day EMA
  • SUP 4: 134.183 Bull channel base drawn off the May 20 low

Bobl futures are holding onto the bulk of recent gains. The contract on Jul 8 confirmed a break of a key short-term resistance at 134.510, Jun 11 high and a Fibonacci projection. This confirmed a resumption of the uptrend that started May 20 and the subsequent climb reinforces the current bullish trend structure. The rising channel top drawn from the May 20 low has also been breached. Initial support lies at 134.710, Jul 8 high.