Free Trial

(U2) Clears Trendline Support

BOBL TECHS
  • RES 4: 129.001 1.764 projection of the Jun 16 -24 - 28 price swing
  • RES 3: 128.060/128.760 High Aug 3 / 2 and the bull trigger
  • RES 2: 127.580 High Aug 10
  • RES 1: 126.930/127.290 High Aug 17 / 15
  • PRICE: 126.850 @ 05:05 BST Aug 17
  • SUP 1: 125.760 Lowe Aug 17
  • SUP 2: 125.391 38.2% retracement of the Jun 16 - Aug 2 rally
  • SUP 3: 124.350 50.0% retracement of the Jun 16 - Aug 2 rally
  • SUP 4: 124.030 Low Jul 21 and a reversal trigger

Bobl futures faced more selling pressure Wednesday and traded lower, piercing the 50-day EMA in the process. The average intersects at 126.093 and a deeper pullback would open 125.391 next, a Fibonacci retracement. The 50.0% level is at 124.350. Note that the contract has also breached a trendline support drawn from the Jun 16 low. Initial firm resistance has been defined at 127.290, the Aug 15 high.

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.