Free Trial

(U18) 131.13-131.05 Provides Initial.....>

BOBL TECHS
BOBL TECHS: (U18) 131.13-131.05 Provides Initial Line Of Defence
*RES 4: 131.94 50% Fibo of 132.97-130.92
*RES 3: 131.84/86 Jun 1, Jun 5 highs
*RES 2: 131.63/64 Jun 8 high, 76.4% of 131.86-130.92
*RES 1: 131.45/52 Hourly resistance
*PRICE: 131.27 @0810GMT
*SUP 1: 131.05/13 Hourly support
*SUP 2: 130.92 Jun 7 low
*SUP 3: 130.84 May 21 high, now support
*SUP 4: 130.75 76.4% Fibo of 130.06-132.97
*COMMENTARY* Last Thursday saw a fall to 130.92, just above the May 21 high at
130.84, this seen as the protection against a drop into the key 130.75-130.63
area. Oversold as a result but the 76.4% retrace at 131.64 quelled the rise on
Friday. The subsequent fall has support from between 131.13-131.05, loss would
concern again. Meanwhile, resistance from 131.44-131.52 but likely that 131.64
will again be tougher higher.

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.