Free Trial

(U9) Corrective mode holds *RES 4:.......>

BOBL TECHS
BOBL TECHS: (U9) Corrective mode holds
*RES 4: 135.060 2.00 Fibo projection of the May 3-15 rally off the May 22 low
*RES 3: 134.770 U9 contract high Jul 3
*RES 2: 134.658 Trendline support now resistance drawn off the May 3 low
*RES 1: 134.430 High Jul 10
*PRICE: 134.360 @ 02:57 GMT July 11
*SUP 1: 134.120 Low Jul 10 and key support
*SUP 2: 133.948 50-day EMA
*SUP 3: 133.900 Low Jun 7
*SUP 4: 133.680 Low Jun 6
U9 Bobl selling pressure yesterday found decent support at 134.120, just below
the 134.150 key level. With trendline support, drawn off the May 3 low breached
this week and momentum studies in a bear mode, bearish pressure is likely to
dominate near-term. Support though at 134.12 needs to be cleared to trigger a
resumption of weakness. Key resistance is 134.659, the former trendline support.
A break above 134.659 is required to again reinstate a bullish tone.

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.