Free Trial

(U18) 131.74 Remains Key Near Term.......>

BOBL TECHS
BOBL TECHS: (U18) 131.74 Remains Key Near Term Support
*RES 4: 132.27/33 Jul 18, Jul 13, Jul 02 highs 
*RES 3: 132.20 Initial pullback low Jul 13, now resistance
*RES 2: 132.12 Hourly high Jul 20
*RES 1: 132.00/04 Jul 25, Jul 23 highs
*PRICE: 131.81 @0753GMT
*SUP 1: 131.72/74 Intraday low, 38.2% Fibo of 130.78-132.33 
*SUP 2: 131.56/60 50% Fibo of 130.78-132.33, Jun 18 low
*SUP 3: 131.35/37 0.5% volatility band, 61.8% of 130.78-132.33
*SUP 4: 131.15 76.4% Fibo of 130.78-132.33
*COMMENTARY* The 132.30 area has continued to prove a tough opponent over the
last month. Highs of 132.33 on Jul 2 and Jul 13 are the best it has got so far.
A continued move towards the 76.4% Fibo retrace level at 132.45 and the swing
target at 132.63, are now on hold. While capped around 132.30-132.33, there will
be scope for a pullback, key support now coming from around 131.74. Meanwhile,
132.00-132.12 provides nearest resistance.

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.