Free Trial

(U4) Bull Cycle Still In Play

BOBL TECHS
  • RES 4: 120.000 Psychological round number
  • RES 3: 119.730 2.00 proj of the May 31 - Jun 14 - Jul 5 price swing
  • RES 2: 119.234 1.764 proj of the May 31 - Jun 14 - Jul 5 price swing
  • RES 1: 119.090 High Aug 5
  • PRICE: 117.910 @ 05:37 BST Aug 6
  • SUP 1: 117.880/117.148 Low Jul 31 / 20-day EMA
  • SUP 2: 116.320 Low Jul 22
  • SUP 3: 115.980 Low Jul 10 / 11
  • SUP 4: 115.530 Low Jul and the key short-term support

Bobl futures remain in an uptrend and the pullback from Monday’s high is considered corrective, and is allowing an overbought condition to unwind. Recent gains resulted in a break of key resistance at the Jun 14 high of 117.160. This break, together with the subsequent impulsive rally, reinforces current conditions. Sights are on 119.234, a Fibonacci projection. On the downside, initial firm support lies at 117.148, 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.