Free Trial

(U2) Trend Needle Still Points South

BOBL TECHS
  • RES 4: 124.147 20-day EMA
  • RES 3: 124.190 High Jun 9
  • RES 2: 122.600/123.280 High Jun 13 / High Jun 10
  • RES 1: 121.660 High Jun 14
  • PRICE: 120.790 @ 05:05 BST Jun 15
  • SUP 1: 120.520 Low Jun 14
  • SUP 2: 120.480 3.50 proj of the May 12 - 18 - 26 price swing
  • SUP 3: 120.270 3.618 proj of the May 12 - 18 - 26 price swing
  • SUP 4: 120.000 Psychologicals round number

Bobl futures remain soft with a fresh low print registered again yesterday. The downtrend continues to accelerate and this signals scope for a continuation lower. The recent breach of 124.840, May 6 low confirmed a resumption of the primary downtrend and has maintained the bearish price sequence of lower lows and lower highs. The focus is on 120.480 next, a Fibonacci projection. Initial firm resistance is still seen at 124.147, the 20-day EMA.

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.