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Free Access(U17) 162.38 Resistance Pivotal To.......>
BUND TECHS: (U17) 162.38 Resistance Pivotal To Near Term Direction
*RES 4: 162.93 50% Fibo of 165.55-160.31
*RES 3: 162.67 Jul 24 high
*RES 2: 162.50 Jul 27 high
*RES 1: 162.38 Jul 28 high
*PRICE: 161.94 @1136GMT
*SUP 1: 161.55/65 Hourly support
*SUP 2: 161.37 Jul 28 low
*SUP 3: 161.21/24 61.8% Fibo of 160.31-162.67, Jul 18 low
*SUP 4: 160.98/06 1.618 swing of 161.56-162.50, Jul 14 low
*COMMENTARY* Found support from 161.37 on Friday, then launching into a recovery
but needing back above Friday's 162.38 high, before the near term bias will
favour the topside again. In the meantime, looking to 161.55-65 for initial
support and protection against another move lower, with the 161.21-24 area
currently of more consequence than that 161.37 level. Directly through 162.38
and two previous highs bar the way to the 50% Fibo retrace at 162.93.
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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.