Free Trial

(U17) 132.54 Hold Needed To Retain.......>

BOBL TECHS: (U17) 132.54 Hold Needed To Retain Recent Momentum
*RES 4: 133.38 61.8% Fibo of 134.89-130.95
*RES 3: 133.26 Jun 12 high
*RES 2: 133.19 0.5% volatility band
*RES 1: 132.87/95 Aug 11, Jun 21 highs
*PRICE: 132.62 @1510GMT
*SUP 1: 132.52/54 Intraday low, Aug 10 low
*SUP 2: 132.46 Aug 4 high, now support
*SUP 3: 132.37/40 Opening gap Aug 8-Aug 9
*SUP 4: 132.24 Aug 7 low
*COMMENTARY* Benefitted from the hold of 132.24 support last week breaking above
the 76.4% Fibo retrace level at 132.80. This now sees the Jun 21 high at 132.95
as next resistance, ahead of the upper 0.5% volatility band at 133.19 by time
today. Support meanwhile comes from Thursday's 132.54 base. This should now
remain intact, if further gains are to follow at this stage and prevent a deeper
correction taking place.

To read the full story



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.