Free Trial

(U3) Trend Outlook Remains Bearish

BOBL TECHS
  • RES 4: 117.700 High Jun 1 and key short-term resistance
  • RES 3: 117.200 High Jun 6
  • RES 2: 116.990/117.010 High Jun 12 / 7
  • RES 1: 116.450 High Jun 26
  • PRICE: 115.930 @ 05:28 BST Jun 28
  • SUP 1: 115.320 Low Jun 22 and the bear trigger
  • SUP 2: 115.198 1.236 projection of the Jun 1 - 8 - 12 price swing
  • SUP 3: 115.986 1.382 projection of the Jun 1 - 8 - 12 price swing
  • SUP 4: 114.815 1.50 projection of the Jun 1 - 8 - 12 price swing

Bobl futures found resistance yesterday and price has pulled back from Tuesday’s high. The contract has recently pierced the 20-day EMA which intersects at 116.221. However, gains are considered corrective and the outlook remains bearish. Moving average studies are in a bear mode position, highlighting a downtrend. The focus is on 115.198, a Fibonacci projection. A clear break of the 20-day EMA would highlight a bullish threat.

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.