Free Trial

(U3) Breaches Support

BOBL TECHS
  • RES 4: 116.990 High Jun 12 and a key resistance
  • RES 3: 116.860 High Jun 13
  • RES 2: 116.600 High Jul 19 and the bull trigger
  • RES 1: 116.200 High Jul 24 and key near-term resistance
  • PRICE: 115.670 @ 05:15 BST Jul 31
  • SUP 1: 115.333/320 61.8% of the Jul 6 - 19 rally / Low Jul 28
  • SUP 2: 115.230 Low Jul 13
  • SUP 3: 115.034 76.4% retracement of the Jul 6 - 19 rally
  • SUP 4: 114.730 Low Jul 12

Bobl futures traded through support at 115.540 on Friday, the Jul 21 / 26 low, before recovering. The break lower undermines the recent bullish theme and highlights potential for a continuation lower near-term. This has exposed 115.333, a Fibonacci retracement point and the next important support. It has been pierced, a clear break would strengthen a bearish threat. On the upside, key near-term resistance has been defined at 116.200, the Jul 24 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.