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(U3) Failed Break Higher

BOBL TECHS
  • RES 4: 117.700 High Jun 01
  • RES 3: 116.860 High Jun 13
  • RES 2: 116.600 High Jul 19
  • RES 1: 116.587 100-dma
  • PRICE: 115.700 @ 15:55 BST Jul 20
  • SUP 1: 115.230/114.550 Low Jul 13 / 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 accelerated higher early Wednesday on a soft UK inflation print, putting prices at 116.600. The upside faltered into the Wednesday close and persisted through Thursday trade to put markets on a more neutral footing headed into the final session of the week, with 116.60 the first upside level to watch and key support remaining below at 114.550. This marks the Jul 6 low and this level marks the bear trigger.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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