Free Trial

(U3) Downtrend Remains Intact

BOBL TECHS
  • RES 4: 116.450 High Jun 26 and a key resistance
  • RES 3: 116.280 High Jun 29
  • RES 2: 115.910 High Jul 3
  • RES 1: 115.519 20-day EMA
  • PRICE: 115.300 @ 05:12 BST Jul 13
  • SUP 1: 114.550 Low Jul 6 and the bear trigger
  • SUP 2: 114.432 1.764 projection of the Jun 1 - 8 - 12 price swing
  • SUP 3: 114.130 Low Mar 6 (cont) and a major support
  • SUP 4: 114.090 2.00 projection of the Jun 1 - 8 - 12 price swing

Bobl futures remain in a downtrend and recent gains are considered corrective. The break lower on Jul 6 confirmed a resumption of the downtrend. This maintains the price sequence of lower lows and lower highs and note that moving average studies are in a bear mode position, reinforcing current trend conditions. The focus is on 114.130, the Mar 6 low on the continuation chart. Initial firm resistance is at 115.519, 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.