Free Trial

(U18) 131.700-770 Support Confirms.......>

BOBL TECHS
BOBL TECHS: (U18) 131.700-770 Support Confirms Significance
*RES 4: 132.660 High May 30 
*RES 3: 132.525 Bollinger band top 
*RES 2: 132.300 High June 28 
*RES 1: 132.200 High June 29
*PREVIOUS CLOSE: 132.210
*SUP 1: 132.030 Hourly support June 29
*SUP 2: 131.770 High June 18 now support, Low June 29
*SUP 3: 131.700 21-DMA
*SUP 4: 131.490 Hourly resistance June 14 now support
*COMMENTARY: Topside hesitation resulted in a sharp dip Friday only to confirm
the significance of the 131.700-770 support region with an aggressive bounce.
Bulls now need a close above 132.300 to confirm focus on 132.660-970. Correcting
O/B studies look to be weighing and are the key concern for bulls. Bears
continue to look for a close below the 21-DMA to hint at a move back to
130.780-131.190 with below 131.490 to confirm.

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.